Strategy Buys 950 Bitcoin For $76M as MSTR Surges 8%: What's Going On?

Strategy (NASDAQ:MSTR) bought 950 Bitcoin for $75.7 million last week, ending another month without purchases as the stock surges another 8% in Monday’s session following Friday’s 16% rally.

What the Filing Shows

According to a Monday 8-K filing with the SEC, Strategy acquired the Bitcoin between Sept. 14 and Sept. 20 at an average price of $79,670 per coin. 

Total holdings now stand at 846,000 Bitcoin (CRYPTO: BTC), worth roughly $71.9 billion, bought at an average price of $75,416 per coin for a total cost of $63.8 billion including fees.

That stake equals more than 4% of Bitcoin’s 21 million supply cap and implies roughly $8.1 billion in paper gains at current prices.

The company also repurchased 1.77 million STRC preferred shares for around $174 million and used $57.4 million to fund dividends on preferred stock and interest on outstanding debt.

As of Sept. 20, the USD Reserve stood at $5.04 billion with USD Cash at $1.05 billion.

Why This Purchase Matters

As Benzinga reported last week, Strategy skipped Bitcoin purchases for two straight weeks through Sept. 13, funneling capital instead toward STRC buybacks as the preferred stock struggled to hold par value. 

That drought followed a single Bitcoin purchase on Aug. 31, when Saylor ended a two-month freeze by buying 4,603 BTC.