Strategy buys 250 BTC as Bitcoin holdings reach 848,250 coins

what happened

According to Cointelegraph, Strategy purchased 250 Bitcoin for $21.5 million last week. It was the second straight week of declining purchases, while the company’s total Bitcoin holdings rose to 848,250 BTC. Strategy financed $21 million of the transaction through common-stock sales and used existing cash for the remaining $500,000. The purchases were made between Monday and Sunday, according to an announcement on the company’s website.

Strategy also continued buying back its STRC preferred stock, spending $192.4 million during the week, compared with $176.3 million in the previous week. The company’s Nasdaq-listed common shares, traded under MSTR, were up less than 1% before Monday’s opening, Yahoo Finance reported. The preferred stock was set to begin trading at $99.68 per share.

The company said it holds a $4.88 billion US Reserve to cover preferred-stock dividends and interest payments on debt. Its separate USD Cash balance was $640.5 million as of Sunday. The purchase came after founder and executive chair Michael Saylor posted on Sunday: “There’s always room for more orange.” The US Securities and Exchange Commission was closed Monday for the Columbus Day holiday, while Strategy generally discloses Bitcoin purchases in SEC filings.

why it matters

Strategy’s accumulation has slowed in recent months. Its holdings increased by only 0.2% in the third quarter, when the company acquired 7,218 BTC and sold 5,553 BTC. The pace of purchases and funding sources remain relevant for MSTR and STRC investors.

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