Strategy buys 1,665 Bitcoin for $143M as BTC stack hits 847,666
Michael Saylor’s Strategy bought 1,665 Bitcoin for $142.7 million last week, lifting its holdings to 847,666 BTC as the company sold common shares to fund the purchase.
The company bought the Bitcoin at an average price of $85,681 per coin between Monday and Sunday, Strategy said in a Sept. 28 8-K filing with the US Securities and Exchange Commission. Strategy has spent $63.95 billion on its holdings at an average price of $75,437 per Bitcoin, including fees and expenses.
Strategy funded the purchase with proceeds from MSTR stock sales. It sold 1.47 million shares for $246.2 million in net proceeds, allocating $142.7 million to Bitcoin and $103.5 million to repurchases of its STRC preferred stock.
Strategy repurchased 1.53 million STRC shares for $151.7 million, with an additional $48.1 million coming from its US dollar cash holdings. The company bought 950 BTC for $75.7 million the previous week after a two-week pause.
Strategy’s “USD Cash” balance fell to $1 billion from $1.05 billion week over week after it used $48.1 million for STRC repurchases. Its separate US dollar reserve, maintained to cover preferred stock dividends and debt interest, declined to $5.02 billion from $5.04 billion after $22.1 million in dividend payments.
Related: Strategy seeks shareholder approval for daily preferred stock dividends
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Jefferies Q3 revenue beats estimates on growth in advisory, underwriting fees
South Korea KOSPI falls below 7000, turnover hits a new annual low, retail investors and foreign capital record net sales of 33 trillion won in a single month
The rise in U.S. Treasury yields and delays in Oracle data centers are dampening AI investment sentiment. Samsung and SK Hynix shares both fell by over 5% in a single day, with their respective stock buyback programs already 85.95% and 66.27% complete, leaving limited upside potential. Currently, the funds waiting to enter the market in Korean brokerage accounts amount to only 101.63 trillion won. The market is focusing on the U.S. PCE data on September 30 and Micron's financial results.
Ganfeng invests USD 180 million in Lithium Argentina via 6-year convertible note
Centuri names Michael Christy EVP, group development officer
Crypto prices
More
