Strategy boosts Bitcoin reserves with $28.7 million purchase and $176 million share buyback
Strategy expanded its Bitcoin holdings this week, purchasing 334 BTC for $28.7 million. The acquisition took place between October 1 and 4, with an average price of $85,838.8 per Bitcoin. The company funded the buy with $15.7 million from MSTR share sales and $13 million in cash.
The purchase increased Strategy's total Bitcoin reserve to 848,000 BTC, up from 847,666 BTC on September 30. The company's total investment in Bitcoin now stands at approximately $63.97 billion, with an average cost of $75,440.7 per BTC, including fees and expenses.
In addition to Bitcoin, Strategy repurchased $176.3 million worth of STRC shares between September 28 and October 4. This share buyback amount was about six times higher than the funds allocated to the new Bitcoin purchase.
The company also estimated its third-quarter gain on digital assets at $20.91 billion. As of September 30, the reported value of its Bitcoin holdings was $70.82 billion.