Strategy Buys 1,665 BTC, Holdings Reach 847,666

Strategy bought 1,665 Bitcoin for $142.7 million last week, increasing its total holdings to 847,666 BTC. The transactions were disclosed in a Sept. 28 Form 8-K filed with the U.S. Securities and Exchange Commission.

The filing shows the coins were acquired between Monday and Sunday at an average price of $85,681 per Bitcoin. Including fees and expenses, Strategy has spent $63.95 billion on its Bitcoin holdings, at an average price of $75,437 per BTC.

Strategy sold 1.47 million MSTR common shares for $246.2 million in net proceeds. It allocated $142.7 million of those proceeds to the Bitcoin purchases and $103.5 million to repurchases of its STRC preferred stock.

According to the filing, Strategy repurchased 1.53 million STRC shares for $151.7 million. The company used $103.5 million from the MSTR share sales and an additional $48.1 million from its U.S. dollar cash balance to complete part of that repurchase.

Strategy’s reported USD cash balance declined to $1.00 billion from $1.05 billion week over week after the $48.1 million contribution toward STRC repurchases. A separate U.S. dollar reserve held to cover preferred stock dividends and debt interest fell to $5.02 billion from $5.04 billion following $22.1 million in dividend payments.

The latest purchase followed a prior acquisition of 950 BTC for $75.7 million the week before, after a two-week pause in buying. The company’s filings also note that it is seeking shareholder approval for changes to preferred stock dividend arrangements.