Strategy Resumes Bitcoin Buying Spree With $28.7 Million Purchase

Strategy, a prominent Bitcoin holder, has resumed its accumulation spree after a summer hiatus. The company acquired 334 BTC for $28.7 million between October 1 and October 4, at an average price of $85,838.80 per coin. This latest purchase brings Strategy’s total holdings to 848,000 BTC, valued at approximately $63.97 billion, with an average cost of $75,440.70 per coin.

The latest acquisition stands out because Strategy paid nearly $10,400 more per Bitcoin than its overall average cost. This indicates a shift in strategy, as the company is now buying Bitcoin even when it is trading above its embedded cost basis. The move follows a summer of flexible capital allocation, where Strategy balanced Bitcoin purchases with cash reserves, preferred-stock obligations, and buybacks.

Financing for the recent Bitcoin buy was notable. Strategy sold 92,894 of its own shares, generating $15.7 million in net proceeds, which were entirely used for the Bitcoin purchase. An additional $13 million came from the company’s USD cash balance. Simultaneously, Strategy continued repurchasing STRC preferred stock, spending $73.7 million on 740,634 shares over the same period.

The company also reported an estimated $20.91 billion gain on digital assets for Q3, with its Bitcoin carrying value at $70.82 billion as of September 30. This marks a clear return to accumulation after a period of prioritizing cash and preferred-stock repurchases.