Strategy buys $82 million in Bitcoin, raises holdings to 850,364 BTC
Strategy purchased 1,036 BTC for $81.9 million, increasing its Bitcoin holdings to 850,364 BTC. At the same time, the largest corporate holder of Bitcoin spent $188.3 million on share buybacks of its STRC preferred stock.
According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on November 9, the average purchase price was $79,012 per coin.
Strategy has spent a total of $64.16 billion building its cryptocurrency reserves, at an average acquisition cost of $75,456 per BTC. The company now controls approximately 4.05% of Bitcoin's maximum supply of 21 million coins.
Strategy spends $188 million on STRC share buybacks
During the reporting week, the company raised $283.8 million by selling approximately 2.05 million MSTR common shares through its at-the-market offering program.
Of the proceeds, $188.3 million was used to repurchase approximately 1.89 million STRC preferred shares. Similar expenditures totaled $208.2 million the previous week.
Another $81.9 million was used to purchase Bitcoin, while $13.6 million was added to the company's cash balance.
Since the beginning of October, Strategy has spent approximately $1.06 billion repurchasing STRC preferred shares. That is nearly five times the $219.7 million the company spent on Bitcoin purchases over the same period.
Meanwhile, its separate U.S. dollar reserve declined from $4.79 billion to $4.77 billion following $21.1 million in preferred stock dividend payments.
In premarket trading on November 9, MSTR shares fell 3% to $125, while STRC traded at approximately $99.70.
Institutional demand for Bitcoin remains under pressure
Strategy's latest purchase came amid weakening investor interest in U.S. spot Bitcoin ETFs. During the latest reporting week, the funds recorded their largest capital outflows since late June.
The decline in demand coincided with a sell-off in technology stocks and deteriorating sentiment across financial markets. Investors are reassessing expectations for a Bitcoin recovery by year-end.
Continued ETF outflows indicate caution among institutional investors despite Strategy's regular purchases.
Earlier, we reported that a Finnish startup had introduced a heating system powered by Bitcoin mining equipment. The solution's economic viability depends in part on electricity costs and Bitcoin remaining above $70,000.
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