Michael Saylor · Strategy · Bitcoin · Federal Reserve (FED) · The Block
‘More orange than ever’: Michael Saylor’s Strategy picks up 334 bitcoin for $28.7 million as total holdings top 848,000 BTC
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Bitcoin (BTC) treasury company Strategy (MSTR) acquired an additional 334 BTC for approximately $28.7 million at an average price of $85,838.80 per bitcoin between Sept. 28 and Oct. 4, according to an 8-K filing with the Securities and Exchange Commission on Monday.
Key facts
- Bitcoin (BTC) treasury company Strategy (MSTR) acquired an additional 334 BTC for approximately $28.7 million at an average price of $85,838.80 per bitcoin between Sept. 28 and Oct
- As of Oct. 4, the balances of its USD Reserve and USD Cash were $4.88 billion and $833.4 million, respectively, the firm said
- Strategy now holds 848,000 BTC, its highest-ever total, worth around $73 billion, bought at an average price of $75,440.70 per bitcoin for a total cost of around $64 billion, including fees
- The latest acquisitions used $154.1 million of the company's USD Cash reserve and $22.2 million were funded using interest earned on Strategy's cash, cash equivalents, and short-term investments
Summary
Strategy now holds 848,000 BTC, its highest-ever total, worth around $73 billion, bought at an average price of $75,440.70 per bitcoin for a total cost of around $64 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor. To put that in perspective, Strategy's holdings are equivalent to more than 4% of bitcoin's 21 million supply cap, and imply around $9 billion of paper gains at current prices. Strategy made the latest acquisitions using proceeds from at-the-market sales of its Class A common stock, MSTR, and its USD Cash reserve. Strategy also repurchased 1.77 million STRC preferred shares last week for around $176.3 million.