Strategy bought 950 bitcoin for $75.7 million in the week of 14 to 20 September and said holdings now stand at 846,000 BTC, the first purchase since late August and a restart funded from cash already on the balance sheet. The Form 8-K filed on 21 September put the average price at $79,670 per bitcoin, including fees. The company sold no shares under its at-the-market program. It also repurchased $174 million of STRC preferred stock from USD cash, and used $57.4 million of its restricted USD reserve to pay preferred dividends and interest. As of 20 September, the USD reserve stood at $5.04 billion and USD cash at $1.05 billion, $6.09 billion combined. Aggregate bitcoin cost is $63.80 billion, an average of $75,416 per coin. Executive Chairman Michael Saylor confirmed the 846,000 total the same day. Shares rose about 8% to $166.24 in Monday morning trading, with an intraday high of $169.50.
950 coins are a restart, not the ETF bid
The prior reporting weeks left the stack unchanged at 845,050 BTC while the company spent about $139 million buying STRC. The last bitcoin purchase before this one was 4,603 BTC in the week of 24 to 30 August. A 950 coin add is small next to Tuesday's $714.7 million of spot ETF inflows, several times the company's $75.7 million outlay. The market still treats the 8-K as a signal that the treasury bid is back on after the 16 September hike. It is not a substitute for IBIT. At an average cost of $75,416, the stack is in profit with bitcoin near $86,800, which is why the preferred buyback and the coin purchase could both clear from cash. If the funds stop creating, 950 BTC will not hold $87,000. If they keep creating, Strategy is a passenger on a larger tape. See the four-session ETF streak and the 845,050 print from 9 September.