Strategy Doubles Down on Bitcoin with Second Straight Week of Purchases

Strategy, a publicly traded company listed on the NASDAQ under the ticker MSTR, has increased its Bitcoin holdings for the second consecutive week. According to an 8-K filing from Monday, Strategy purchased 1,665 BTC at an average price of $85,681 per coin between September 21 and 27.

This latest buy brings Strategy's total Bitcoin holdings to 847,666 coins, acquired for a total of $63.95 billion at an average price of $75,437 per coin. The company funded this purchase by selling 1.47 million MSTR shares through its at-the-market program, generating net proceeds of $246.2 million.

Of the net proceeds, $142.7 million was used to buy Bitcoin, while $103.5 million was allocated for repurchasing STRC preferred shares. Strategy also spent $151.7 million on repurchasing 1.53 million STRC shares from its cash balance.