Strategy buys 950 Bitcoin for $76 million, holdings hit 846,000 BTC
In brief
- Strategy purchased 950 BTC for ~$76 million at $79,670 per coin
- Total holdings now 846,000 BTC, highest since June 2024
- Bitcoin traded near $85,000, highest level since late January
- Strategy repurchased 1.8 million preferred shares for $174 million
Acquisition details
Strategy used USD Cash for the latest purchase at an average price of $79,670 per coin. The company reported no BTC sales under its at-the-market offering last week, maintaining its accumulation strategy. Strategy's cumulative Bitcoin purchases now total $63.8 billion, with an average acquisition price of $75,416 per BTC.
The latest holdings figure is the highest Strategy has reported since June, when it sold 1,363 BTC after holdings reached a record 847,363 BTC. The company's continued purchases reflect confidence in Bitcoin's long-term value.
Capital allocation and reserves
Beyond Bitcoin, Strategy deployed capital across other initiatives. The company repurchased nearly 1.8 million preferred shares for $174 million using USD Cash. At the end of the period, its USD Reserve stood above $5 billion and USD Cash at around $1 billion.
$57.4 million from the reserve was used to pay preferred-stock dividends and interest on outstanding debt. Shares of Strategy surged about 7% in premarket trading after closing 16% higher on Friday, signaling investor appetite for the company's Bitcoin-focused strategy.
Frequently asked questions
Why did Strategy buy more Bitcoin?
Strategy's continued purchases reflect confidence in Bitcoin's long-term value. The company's cumulative purchases now total $63.8 billion at an average acquisition price of $75,416 per BTC, showing sustained conviction in the asset's potential.
What happened to Strategy's stock price?
Shares of Strategy surged about 7% in premarket trading after closing 16% higher on Friday, signaling investor enthusiasm for the company's Bitcoin accumulation strategy and market positioning.
