Strategy buys Bitcoin, repurchases STRC in a $294M capital shuffle

Strategy MSTR added another 1.67K Bitcoin BTCUSD to keep its aggressive crypto-buying strategy intact.

The company announced on Monday via its Form 8-K SEC filing that it had purchased 1.67K Bitcoin for $142.7M during the week ended September 27, paying an average of $85.68K per crypto token.

The latest purchase brought Strategy’s total Bitcoin holdings to 847.67K, acquired for an aggregate $63.95B, at an average cost of $75.44K per token.

The company funded the purchase with proceeds from its MSTR stock ATM offering. During the period, it sold 1.47M shares, generating $246.2M in net proceeds. Of that, $142.7M was used to buy Bitcoin, while $103.5M went toward repurchasing Series A perpetual preferred stock STRC.

The company repurchased 1.53M STRC shares for $151.7M during the week. It still had $723.5M available for preferred-stock repurchases and $1.0B remaining under its MSTR stock buyback program.

Meanwhile, Strategy’s USD Reserve stood at $5.02B, while USD Cash was $1.0B as of September 27.

At the time of writing, Strategy stock traded slightly lower at ~$157.34 in premarket trading, while Bitcoin traded ~1.33% lower at ~$83.34K.