Strategy Buys 950 Bitcoin as Its Treasury Reaches 846,000 BTC

Strategy purchased 950 bitcoin for $75.7 million between September 14 and September 20, lifting its corporate treasury to 846,000 BTC. The company reported an average price of $79,670 per bitcoin, including fees and expenses, in its September 21 Form 8-K.

The bitcoin purchase was modest relative to the size of Strategy’s existing position. During the same period, however, the company repurchased $174.0 million of its STRC preferred stock, a larger use of capital.

Strategy said it funded the bitcoin purchase with cash and made no sales through its at-the-market equity offering during the week.

Strategy adds 950 BTC, lifting holdings to 846,000

Strategy reported a 950-BTC purchase for $75.7 million during the week ending September 20. The all-in price was $79,670 per bitcoin, including fees and expenses.

Its reported balance stood at 846,000 BTC as of September 20, according to the company’s Bitcoin Ledger.

Those holdings had cost $63.80 billion in aggregate, producing an average acquisition cost of $75,416 per bitcoin. The difference from the latest purchase price reflects the much larger base accumulated through prior acquisitions.

The new purchase was a small addition to the reported balance and left Strategy a large corporate holder of bitcoin.

Cash, not ATM stock sales, funded the bitcoin purchase

Strategy funded the latest bitcoin acquisition from its USD cash balance, rather than from proceeds of shares sold through its at-the-market, or ATM, offering. The Form 8-K said the company recorded no ATM sales during the purchase week.

That disclosure separates the immediate source of funds for this transaction from an equity issuance program. It does not, by itself, establish how the cash balance had been built before the reporting period, but it makes clear that no ATM stock sales financed the disclosed 950-BTC buy during September 14 through September 20.

The financing detail is especially relevant because Strategy’s bitcoin acquisition and preferred-share repurchase occurred in the same reporting window. Rather than reporting an ATM issuance alongside the bitcoin purchase, the company disclosed cash deployment across both activities.

STRC repurchases exceeded the week’s bitcoin outlay

During the period, Strategy’s filing showed two uses of capital: the company bought 950 BTC for $75.7 million and repurchased 1,771,238 STRC preferred shares for $174.0 million.

The preferred-stock transaction was $98.3 million larger than the bitcoin purchase—more than twice the outlay. Strategy reported no ATM sales during the week; the filing identified cash as the funding source for the bitcoin acquisition.

These disclosures capture the transactions completed in that reporting window and do not amount to a broader statement of Strategy’s future capital-allocation plans.

The 846,000-BTC treasury was valued near $71.9 billion

The Block reported that Strategy’s 846,000-BTC treasury was worth approximately $71.9 billion at the time of its publication. That is a market-value estimate, distinct from Strategy’s disclosed aggregate purchase cost of $63.80 billion.

The company’s ledger places its average acquisition cost at $75,416 per bitcoin. The latest purchase, at $79,670 per bitcoin including fees and expenses, was made above that portfolio-wide average.

Market value changes with bitcoin’s price, while Strategy’s aggregate purchase cost and average cost summarize what it paid to acquire the holdings. The latest disclosure therefore adds a fresh purchase and a funding detail to a treasury that Strategy reported at 846,000 BTC as of September 20.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.