Michael Saylor’s Strategy has expanded its Bitcoin holdings to 848,250 BTC after acquiring 250 BTC last week. The purchase, valued at $21.5 million, marks the second straight week of reduced buying activity for the company. Strategy funded $21 million of the acquisition through common stock sales, with the remaining $500,000 coming from existing cash reserves, as detailed on its website.
The company also continued its repurchase of preferred stock, spending $192.4 million during the week, up from $176.3 million the previous week. As of Sunday, Strategy maintained a $4.88 billion cash reserve to support dividends and debt payments, with an additional $640.5 million in USD cash balance. The company’s common stock, MSTR, saw a modest increase ahead of Monday’s market opening, while its preferred stock was set to open at $99.68 per share.
Strategy’s Bitcoin accumulation has slowed in recent months, with holdings growing just 0.2% during the third quarter. The company acquired 7,218 BTC while selling 5,553 BTC during that period. Founder Michael Saylor hinted at the purchase with a social media post, stating, “There’s always room for more orange.” The company typically reports its Bitcoin purchases in filings with the US Securities and Exchange Commission, which was closed Monday for the Columbus Day holiday.