Strategy buys 267 more bitcoin, lifting October spending to $73 million
Strategy adds 267 bitcoin in its third October purchase
Strategy, the software company that holds more bitcoin than any other public company, bought another 267 bitcoin last week. The purchase brings its total holdings to 848,517 coins, which the company values at $69.5 billion at current prices.
The company said in a Monday filing that it spent slightly more than $22 million on the new coins. That is slightly more bitcoin than it bought the previous week, when it also spent $22 million for 250 BTC.
With this third buy of the month, Strategy has now spent $73 million on bitcoin in October.
Key numbers from the filing
- 267 BTC bought last week for a little over $22 million
- Total holdings: 848,517 BTC, worth $69.5 billion at the time of the report
- October spending so far: $73 million
- $193.1 million of STRC preferred stock repurchased in the same filing
- Strategy shares were up nearly 2% Monday morning in New York at about $139, down 17% over the past month and 11% so far this year
What the Monday filing shows
The details come from an 8-K filing, a form public companies file with US regulators to report major events. Alongside the bitcoin purchase, the filing shows Strategy repurchased $193.1 million of its STRC preferred stock.
Preferred stock is a type of company share that typically pays a fixed dividend. Strategy has been buying back this stock this year because its STRC preferred shares have traded below their $100 face value, which the company links to market volatility and index changes.
From MicroStrategy to a large bitcoin holder
Strategy, formerly known as MicroStrategy, began buying bitcoin in August 2020 as a way to seek better returns for its shareholders. It says it has since spent around $64 billion on bitcoin. Investors can buy its shares to get exposure to bitcoin without buying the cryptocurrency directly.
The company is also focusing on products that pay investors yield through its STRF, STRC, STRK and STRD preferred shares.
An index proposal that could affect Strategy
Strategy may face a change in how it is treated by index providers. Morgan Stanley Capital International said last week it was moving forward with a proposal "to define and classify non-operating companies as ineligible for inclusion in the MSCI Global Investable Market Indexes."
If such a change takes effect, it could eventually remove Strategy from the index. That could mean fewer institutional investors hold the stock, since index funds buy shares of companies included in the indexes they track. This is a proposal, not a confirmed removal.
What is confirmed and what is still unclear
Confirmed: the 267 BTC purchase, the $22 million spent, the 848,517 BTC total, the $73 million October total and the $193.1 million STRC repurchase all come from the company's Monday filing. The share price levels, the MSCI proposal and the repurchase reasoning are as reported.
Unclear: whether MSCI's proposal will be finalized, and whether it would result in Strategy being removed from the index or in reduced institutional holdings. The outcome and timing of that process are not known from the available material.
Why this matters
Strategy is the biggest corporate holder of bitcoin, so its regular purchases are watched as a sign of how large companies approach the asset. Its buying is funded partly through share sales and preferred stock, which links the company's stock performance and its bitcoin holdings closely together. The MSCI proposal matters because index inclusion can affect how many institutional investors hold a stock.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.