Michael Saylor · Strategy · Bitcoin · CryptoSlate
Strategy makes first back-to-back Bitcoin snaps up since June as accumulation picks up
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Michael Saylor-led Strategy (formerly MicroStrategy) has made back-to-back weekly Bitcoin purchases for the first time since June, rebuilding its holdings after selling some of the cryptocurrency earlier this quarter.
Key facts
- Strategy repurchased about 1.53 million shares of its Variable Rate Series A Perpetual Stretch preferred stock for $151.7 million last week, slightly more than the $142.7 million it spent buying
- The renewed buying has lifted Strategy's holdings to a record 847,666 BTC, acquired for about $63.9 billion at an average price of $75,437
- That left Strategy with about $1 billion of general-purpose cash and $5 billion in its separate USD Reserve as of Sept. 27
- The company funded the STRC repurchases with $103.5 million from MSTR share sales and another $48.1 million from its USD Cash balance
Summary
01 Strategy made back-to-back weekly Bitcoin purchases for the first time since June, lifting holdings to a record 847,666 BTC. 02 The two buys erased earlier Q3 sales and returned quarterly Bitcoin accumulation to positive territory with three trading days left. 03 The next test is whether Strategy extends the buying streak while continuing to spend heavily supporting STRC near its $100 target. On Sept. 28, the company said it acquired 1,665 Bitcoin for $142.7 million during the week ended Sept. 27, paying an average of $85,681 per token.