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Strategy purchased another 950 Bitcoin for about $75.7 million. The acquisitions were made between Sept. 14 and Sept. 20 at an average price of $79,670 per BTC, according to a filing submitted to the U.S. Securities and Exchange Commission.
Following the purchase, Strategy increased its total holdings to 846,000 BTC. The company has spent about $63.8 billion on those Bitcoin purchases, with an average acquisition price of $75,416 including fees and expenses.
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At Bitcoin’s current price, Strategy’s crypto reserves are worth about $71.9 billion. That implies unrealized gains of roughly $8.1 billion.
Strategy’s holdings are equivalent to more than 4% of Bitcoin’s maximum supply of 21 million coins.
What else did the company buy?
Last week, the company also repurchased about 1.77 million STRC preferred shares for roughly $174 million. Strategy funded its latest Bitcoin purchase with cash.
During the same period, the company used $57.4 million from its U.S. dollar reserve to pay dividends on preferred shares and interest on outstanding debt.
As of Sept. 20, Strategy’s U.S. dollar reserve stood at $5.04 billion, while its available cash totaled about $1.05 billion.
The first company to adopt a Bitcoin strategy
Strategy became the first major publicly traded company to make Bitcoin a central part of its financial strategy. In 2020, when the company was still known as MicroStrategy, it began using excess cash to buy BTC, presenting the move as a way to protect capital from inflation and the depreciation of the U.S. dollar.
The model later expanded. Strategy began issuing shares and debt securities and using the proceeds to buy more Bitcoin. As a result, the company effectively turned itself into a corporate vehicle for accumulating BTC. The strategy is designed to steadily increase the amount of Bitcoin on its balance sheet and benefit from the asset’s long-term appreciation by leveraging access to capital markets.
As a reminder, the company recently explained why it sold Bitcoin near the market bottom.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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