Strategy Adds 250 Bitcoin for $21.5 Million, Total Holdings Hit 848,250 BTC

Second straight week of smaller Bitcoin buys for Strategy

Strategy purchased 250 Bitcoin (BTC) for $21.5 million during the week ending Sunday, October 11, bringing its total Bitcoin holdings to 848,250 BTC. The buy was smaller than the previous week, marking the second consecutive week that the company's weekly purchases declined.

According to a company announcement, $21 million of the purchase was funded through the sale of shares of its common stock, and the remaining $500,000 came from existing cash on hand.

Key numbers from the week

• 250 BTC acquired for $21.5 million
• Total Bitcoin holdings: 848,250 BTC
• $192.4 million spent repurchasing STRC preferred stock, up from $176.3 million the prior week
• $4.88 billion held in a US Reserve set aside for preferred stock dividends and debt interest payments
• $640.5 million in separate USD cash as of Sunday

What the company announced

Strategy published the full details of both the Bitcoin purchase and the preferred stock repurchase on its own website. Ahead of the announcement, founder and executive chair Michael Saylor posted on Sunday: "There's always room for more orange," a nod to Bitcoin.

Strategy typically discloses Bitcoin purchases through filings with the US Securities and Exchange Commission. The SEC was closed Monday for the Columbus Day holiday, so the formal filing had not yet been posted when the company made its own announcement.

Bitcoin accumulation has cooled

Strategy's Bitcoin buying pace has slowed in recent months. During the third quarter, the company's holdings grew just 0.2%, as it acquired 7,218 BTC while selling 5,553 BTC. The latest 250 BTC purchase continued that trend of smaller weekly buys.

Stock reaction

Strategy's Nasdaq-listed common stock, traded under the ticker MSTR, was up less than 1% ahead of Monday's market open, according to Yahoo Finance. Its preferred stock was set to open at $99.68 per share.

Why this matters for Bitcoin watchers

Strategy is one of the largest corporate holders of Bitcoin. Its weekly purchase announcements tend to draw attention from market participants tracking large-scale Bitcoin demand from companies. The increase in preferred stock repurchases at the same time that Bitcoin purchases have shrunk suggests a shift in how the company is deploying capital.

Sources

• Cointelegraph
• Strategy (company announcement)