Strategy Adds 250 BTC to Holdings as STRC Buybacks Accelerate

Strategy (NASDAQ: $MSTR) bought 250 Bitcoin (CRYPTO: $BTC) for $21.5 million last week, extending its holdings to a record 848,250 BTC as the company continued buying back its preferred shares at a much faster pace.

The company acquired the Bitcoin between October 5 and October 11 at an average price of $86,194 per coin, including fees, according to a Monday announcement. Its total holdings have now cost about $64 billion, with an average purchase price of $75,444 per Bitcoin.

The latest purchase marks a second consecutive weekly decline in Bitcoin buying. Strategy acquired $29 million worth of Bitcoin the previous week, compared with $21.5 million last week.

The company financed $21 million of its latest purchase by selling roughly 125,000 shares of its MSTR common stock through an at-the-market offering program. It used another $500,000 from existing cash reserves to cover the remainder.

Strategy also repurchased 1.93 million shares of its variable-rate Stretch (NASDAQ: $STRC) preferred stock for $192.4 million during the week. That was up from roughly $176.3 million in buybacks the previous week. The company said $354.8 million remained available under its STRC repurchase program.

As of October 11, Strategy held $4.88 billion in a US dollar reserve designated for preferred stock dividends and debt interest payments. Its separate cash balance stood at $640.5 million.

"There's always room for more orange," founder and executive chairman Michael Saylor said in a Sunday post on X.

Despite adding to its holdings, Strategy's Bitcoin accumulation has slowed in recent months. The company acquired 7,218 BTC during the third quarter, while its holdings grew just 0.2%, according to previous reports.

Bitcoin is currently trading at $82,853, largely flat over the past day. Strategy shares are trading at $99,79 apiece.