Strategy bought 1,665 bitcoin for $142.7 million between 21 and 27 September and said holdings now stand at a record 847,666 BTC. The Form 8-K filed on 28 September put the average price at $85,681 per bitcoin. Aggregate holdings were acquired for $63.95 billion, an average of $75,437 per coin, The Block reported from the filing and from Executive Chairman Michael Saylor. The purchase used proceeds from at-the-market sales of Class A common stock. Strategy sold 1,469,165 MSTR shares for $246.2 million in net proceeds. Of that, $142.7 million went to bitcoin and $103.5 million went to repurchases of STRC preferred stock. The company retired 1,534,530 STRC shares for $151.7 million in total, with the rest of that buyback funded from USD cash. It also used $22.1 million of its USD reserve for preferred dividends. As of 27 September the firm reported $6.02 billion of USD assets. Saylor's note the same day said the company was adding "even more orange."
The second weekly buy is funded with stock, not leftover cash
This is the second straight weekly purchase. The prior week, disclosed on 21 September, was 950 BTC for $75.7 million and took the stack to 846,000. The new total clears the previous record of 847,363 BTC from 22 June, after the company sold coins over the summer and resumed buying in August. The funding mix has changed. Last week's 950 coins came from cash already on the balance sheet, with no at-the-market sales. This week's coins were paid for with new MSTR shares. At $85,681, the firm paid above its $75,437 average cost, and above the $83,000 area where bitcoin traded on Tuesday after an eighth day of ETF inflows. A 1,665 coin add is about $143 million. Monday's spot ETF net inflow was only $31.07 million, so the corporate bid was larger than the day's fund flow, and still small next to the $714.7 million creation on 22 September. If MSTR keeps funding buys while the 10-year sits at 5.22%, the treasury bid is real and the equity is the funding pipe. See the 950 coin week and Monday's ETF print.