Strategy Buys 1,665 Bitcoin for $142.7M as Saylor Promises 'Even More Orange'

Strategy (NASDAQ:MSTR) bought 1,665 Bitcoin (CRYPTO: BTC) for $142.7 million last week, its second straight weekly purchase, after Michael Saylor’s Sunday “Even more orange” post.

What the Filing Shows

According to a Monday 8-K filing, Strategy bought the Bitcoin between Sept. 21 and Sept. 27 at an average of $85,681 per coin. 

Total holdings now stand at 847,666 BTC, acquired for $63.95 billion at an average of $75,437 per coin.

Unlike recent weeks, Strategy funded the buy by selling stock. It sold 1.47 million MSTR shares through its at-the-market program for $246.2 million in net proceeds, then split the money:

• $142.7 million — Bitcoin purchase
• $103.5 million — STRC preferred share buybacks

Strategy also repurchased 1.53 million STRC shares for $151.7 million in total, covering the remaining $48.1 million from its cash balance. 

The USD reserve holds $5.02 billion, plus $1 billion in additional cash, after $22.1 million went to preferred dividends. 

Strategy has $723.5 million left for preferred repurchases and $1 billion authorized for MSTR buybacks.

Why This Second Purchase Matters

As Benzinga reported Sept. 21, Strategy bought 950 BTC for $75.7 million the week before, ending a stretch of skipped weeks.