Strategy (formerly known as MicroStrategy) MSTR stock jumped 8% in trading on Monday after the company resumed buying Bitcoin following a two-week pause, while also continuing its repurchases of STRC preferred stock.
Strategy acquired 950 Bitcoin for approximately $75.7 million during the week ended September 20, according to a Form 8-K filing with the US Securities and Exchange Commission.
The company paid an average of $79,670 per Bitcoin, including fees and expenses.
The purchase increased Strategy’s total Bitcoin holdings to 846,000 BTC.
The company has spent approximately $63.8 billion acquiring its Bitcoin holdings at an average cost of $75,416 per coin, including fees and expenses.
Strategy adds 950 Bitcoin
Strategy’s latest purchase comes as the company continues to balance its Bitcoin accumulation strategy with capital management and its preferred securities.
Bitcoin also surged past $85,000 after 4 months in the session.
Bitcoin was trading at $85,910 at the time of publication.
At that price, Strategy’s Bitcoin holdings were sitting on an unrealized gain of approximately $8.9 billion based on the difference between the market price and the company’s average acquisition cost.
Strive, described as the world’s fifth-largest corporate Bitcoin holder, also announced a Bitcoin purchase on Monday.
The company added 1,355 BTC during the previous week, bringing its total holdings to 26,355 BTC.
Strategy buys back $174 million of STRC
Alongside its Bitcoin purchase, Strategy continued repurchasing its Series A preferred stock, STRC.
The company bought back approximately 1.77 million STRC shares for $174 million during the week. STRC shares rose 0.44% to $98.94 in trading on Monday.
Strategy said it had $875.1 million remaining under its preferred-stock repurchase programme and another $1 billion available under its MSTR share repurchase programme.
The company also reported no sales under its at-the-market offering programmes between September 14 and September 20.
That means Strategy did not raise funds through those programmes during the period.
Cash reserves decline
Strategy’s cash balances also declined during the week as the company used funds for Bitcoin purchases, preferred-stock dividends and interest payments.
The company’s USD Cash balance fell nearly 20% to $1.1 billion from $1.3 billion a week earlier.
Strategy uses its USD Cash balance for broader treasury purposes, including Bitcoin purchases and capital management.
Its separate USD Reserve balance declined to $5 billion from $5.1 billion after the company used $57.4 million to pay preferred-stock dividends and interest on outstanding debt.
Combined, Strategy held approximately $6.1 billion across its USD Cash and USD Reserve balances as of September 20.
The latest Bitcoin purchase follows a period in which Strategy had kept its Bitcoin holdings unchanged.
Executive Chairman Michael Saylor posted a Bitcoin acquisition tracker chart on X on Sunday with the caption “A little more orange,” a type of post that has previously preceded Strategy’s Bitcoin purchase announcements.
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