Strategy Expands Bitcoin Holdings to 848,000 BTC
Michael Saylor's Strategy, a company known for its aggressive Bitcoin accumulation, announced a significant purchase of 344 BTC for $28.7 million, at an average price of $85,839 per Bitcoin. This latest acquisition brings the company's total Bitcoin holdings to 848,000 BTC, with an aggregate cost of $63.97 billion. To fund this purchase, Strategy sold 92,894 MSTR shares for approximately $15.7 million and used an additional $13 million from its USD Cash reserves.
The company's Bitcoin holdings had a carrying value of $70.82 billion as of September 30. Strategy also estimated a substantial $20.91 billion gain on digital assets for the third quarter. Despite these gains, both MSTR stock and Bitcoin prices remain below their levels from a year ago, with MSTR down over 50% and Bitcoin down around 30% in the past 12 months.
In other financial moves, Strategy allocated $154.1 million to repurchase its preferred stock and used $142.5 million to fund dividends and interest on outstanding debt. As of Monday, the company held $4.88 billion in its USD Reserve and $833.4 million in USD Cash. Retail sentiment around Bitcoin on Stocktwits shifted to 'neutral' to 'bearish' over the past day, contrasting with the 'bullish' sentiment around MSTR stock.