Strategy acquired 267 Bitcoin for approximately $22.1 million between October 12 and October 18, bringing its total holdings to 848,517 BTC. The company also repurchased about $193.1 million in STRC preferred shares and raised its digital credit securities repurchase authorization to $3 billion.
Strategy Inc. (NASDAQ: MSTR) continued expanding its Bitcoin treasury last week, paying an average of $82,900 per coin for its latest purchase, including fees and expenses. The company disclosed the acquisition in its October 19 filing and capital management update.
The latest purchase brings Strategy’s cumulative Bitcoin acquisition cost to approximately $64.02 billion. Its holdings were acquired at an average price of $75,446 per BTC, according to the company’s announcement.
Strategy’s Bitcoin Holdings Rise to 848,517 BTC
The 267-Bitcoin purchase adds to Strategy’s position as the largest publicly listed corporate holder of Bitcoin. Executive Chairman Michael Saylor has continued to promote the company’s Bitcoin-focused treasury strategy, which uses capital markets activity and available cash to finance acquisitions.
Strategy funded most of the latest purchase through proceeds from sales of its Class A common stock under an at-the-market offering program. The company sold 140,872 MSTR shares for approximately $22 million during the reporting period, with cash covering the remaining purchase cost.
The acquisition follows Strategy’s purchase of 250 BTC for approximately $21.5 million in the previous reporting period. That brought its holdings to 848,250 BTC as of October 11, before the latest addition.
Strategy’s approach gives shareholders substantial exposure to Bitcoin’s price movements through the company’s balance sheet. However, issuing additional shares to fund purchases can dilute existing shareholders, while declines in Bitcoin’s market price can reduce the value of its holdings.
The company’s total acquisition cost is also not a measure of its current market value. That value changes with Bitcoin’s price, meaning the gap between the company’s average purchase price and the market price remains an important consideration for investors.
Strategy Expands STRC Repurchase Program to $3 Billion
Alongside the Bitcoin acquisition, Strategy repurchased approximately $193.1 million of its STRC preferred shares during the week. The company also announced that its board had increased the total authorization for its digital credit securities repurchase program to $3 billion from $2 billion.
The repurchases are part of Strategy’s broader capital management approach, which includes managing its preferred securities and maintaining US dollar reserves to support preferred dividends and interest payments. The company reported about $5.3 billion in combined dollar assets as of October 18, according to its announcement.
The buyback authorization does not mean Strategy will immediately spend the full amount. It establishes the maximum aggregate purchase price permitted under the expanded program, subject to the company’s decisions and market conditions.
Investors following alternative crypto investment strategies should distinguish between direct Bitcoin ownership and exposure through Strategy shares. MSTR stock reflects not only Bitcoin’s price but also the company’s financing decisions, operating business, preferred securities and market valuation.
Strategy’s latest purchase reinforces its commitment to accumulating Bitcoin despite ongoing market volatility. Whether that strategy benefits shareholders will depend on Bitcoin’s future performance, the cost of financing additional acquisitions and how investors value the company relative to its underlying assets.
For investors tracking broader stock and investment market developments, Strategy remains a closely watched example of how a listed company can use equity and other capital instruments to build a large digital asset treasury.