Michael Saylor’s Bitcoin Treasury Hits 848,000 BTC As Strategy Estimates $20.9B Q3 Gain

Strategy bought 344 BTC for $28.7 million at an average price of $85,839 per Bitcoin.

• The latest purchase brings Strategy’s total Bitcoin holdings to 848,000 BTC, with a reported aggregate cost of $63.97 billion.
• Strategy sold 92,894 MSTR shares for approximately $15.7 million, using the proceeds in part to fund the Bitcoin purchase.
• Bitcoin’s carrying value on Strategy’s balance sheet reached $70.82 billion on September 30.

Michael Saylor-backed Strategy (MSTR) shares moved higher in early morning trade on Monday, along Bitcoin (BTC) in the green, with the company estimating a $20.91 billion gain on digital assets for the third quarter and disclosing its latest Bitcoin purchase that pushed its holdings to 848,000 BTC.

MSTR stock rose around 2.4% in pre-market. On Stocktwits, retail sentiment around the Bitcoin treasury trended in ‘bullish’ territory over the past day. 

In its filing with the Securities and Exchange Commission (SEC), Strategy disclosed that it had bought its latest Bitcoin bundle for $28.7  million, paying an average price of $85,839 per BTC.

At the time of writing, Bitcoin’s price was trading at around $86,000, up nearly 1% in the last 24 hours, paring gains after the apex cryptocurrency came within about $500 of its late-September peak earlier in the day. On Stocktwits, retail sentiment around Bitcoin shifted to ‘neutral’ to bearish’ over the past day.