Strategy Hits 848,000 BTC as Bitcoin Holdings Surge

Strategy, the company backed by Michael Saylor, has expanded its Bitcoin holdings to 848,000 BTC, marking a significant milestone. The latest purchase, valued at $28.7 million, brings the total cost of Strategy's Bitcoin holdings to approximately $63.97 billion. To fund this acquisition, Strategy sold 92,894 shares of its common stock, raising around $15.7 million, and also utilized $13 million from its USD Cash reserves.

The company's Bitcoin holdings had a carrying value of $70.82 billion as of September 30, reflecting a substantial increase. Strategy also disclosed that it allocated $154.1 million to repurchase its preferred stock and used $142.5 million to cover dividends and interest on outstanding debt. As of Monday, Strategy held $4.88 billion in its USD Reserve and $833.4 million in USD Cash.

In its third-quarter (Q3) digital-asset performance estimate, Strategy anticipates a gain of $20.91 billion. Despite this positive outlook, both Strategy's stock (MSTR) and Bitcoin have underperformed compared to their levels from a year ago. MSTR stock has seen a 3% year-to-date gain but has dropped over 50% in the past 12 months, while Bitcoin's price has fallen around 2% year-to-date and is down 30% over the same period.