Record Bitcoin Holdings
Strategy Adds 1,665 Bitcoin to Reach Record Holdings of 847,666 BTC
Anonymous
Strategy bought 1,665 bitcoin for about $142.7 million between Sept. 21 and Sept. 27, bringing its holdings to a record 847,666 BTC, more than 4% of bitcoin’s 21 million-coin supply cap. The purchase price averaged $85,681 per coin; the company’s aggregate purchase cost was about $63.95 billion, or an average acquisition cost of $75,437 per coin. Strategy raised $246.2 million by selling about 1.47 million MSTR shares and repurchased roughly 1.53 million STRC preferred shares for $151.7 million, using part of the proceeds along with $48.1 million in cash. It reported $5.02 billion in its USD Reserve and $1 billion in USD Cash. The purchase came amid broader bitcoin market pressure related to geopolitical tensions and risk-off trading.
Key Points
1
The purchase set a new company record, surpassing Strategy’s previous reported high of 847,363 BTC from June 22. The company had sold 6,948 BTC between May and August before resuming purchases.
2
Strategy’s filing showed $22.1 million was drawn from its USD Reserve to cover preferred-stock dividends and debt interest; the reserve is maintained separately for those obligations.
3
Strategy proposed switching its preferred-stock dividends from twice-monthly to daily payments. The proposal, covering its 12%-yield preferred stock, was subject to a shareholder vote scheduled for Oct. 28.
4
Strategy said it was buying back STRC shares while the preferred stock traded below its stated amount; $723.5 million remained available under its digital-credit securities repurchase authorization.
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