Strategy Acquires 1,665 Bitcoin for $143M, Total Holdings Reach 847,666
Strategy adds 1,665 Bitcoin to treasury
Strategy bought 1,665 Bitcoin for $142.7 million during the week ending September 21. This purchase brings the company's total Bitcoin holdings to 847,666 BTC. The acquisition was funded by selling common shares of the company.
The company disclosed these details in a filing with the US Securities and Exchange Commission (SEC) on September 28. The filings serve as the official record for these transactions.
Funding the purchase through stock sales
To pay for the new Bitcoin, Strategy sold 1.47 million of its common shares, raising $246.2 million in net proceeds. The company allocated $142.7 million of this amount to buy Bitcoin. The remaining $103.5 million was used to repurchase its STRC preferred stock.
In addition to the Bitcoin purchase, the company bought back 1.53 million STRC shares for $151.7 million. An extra $48.1 million from its US dollar cash reserves was also used for this stock repurchase.
Total spending and average costs
- The 1,665 Bitcoin were acquired at an average price of $85,681 per coin.
- Since beginning its strategy, the company has spent $63.95 billion on Bitcoin.
- The overall average purchase price for all held Bitcoin is $75,437 per coin, including fees and expenses.
- This follows a previous purchase of 950 BTC for $75.7 million the week prior, which ended a two-week pause in buying.
Cash reserves decline slightly
Strategy's "USD Cash" balance dropped to $1 billion from $1.05 billion over the week. This decrease resulted from the $48.1 million used for preferred stock repurchases. A separate US dollar reserve, kept to cover dividends and debt interest, fell to $5.02 billion from $5.04 billion after $22.1 million in dividend payments.
Recent transaction history
The latest purchase marks a resumption of activity after a two-week break. The company previously bought 950 Bitcoin for $75.7 million. These ongoing purchases continue to increase the firm's exposure to Bitcoin as a treasury asset.
Source
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