Strategy Breaks Record with 1.7B Bitcoin Purchase

Strategy, an investment company, has made a new record in its Bitcoin holdings after purchasing 1,665 BTC for $142.7 million between September 21 and September 27. This purchase takes Strategy's total Bitcoin holdings to 847,666 BTC.

The average price paid for the latest purchase was $85,681 per coin, according to a Monday filing with the Securities and Exchange Commission (SEC).

Strategy has been balancing its Bitcoin purchases with buybacks of its preferred stock, STRC. The company repurchased 1.53 million shares of STRC for $151.7 million.

The latest purchase was funded by proceeds from sales of MSTR common stock through Strategy's at-the-market offering program.