Bitcoin treasury firm Strategy acquired 267 BTC between October 12 and 18 for $22.1 million at an average price of $82,900, according to an SEC filing. The purchase brings the company's total Bitcoin holdings to 848,517 BTC, acquired for $64.02 billion at an average price of $75,446.
Strategy funded the purchase primarily through stock sales, selling 140,872 MSTR shares for $22 million, with the remaining $100,000 coming from its USDC cash pool. Co-founder Michael Saylor announced the acquisition on social media with the message, "We found room for more orange."
The latest purchase follows the company's acquisition of 250 BTC announced the previous week, continuing Strategy's expansion of its Bitcoin treasury.
Stock Buyback Program Expanded
Strategy's board of directors approved an increase in the aggregate purchase price authorized under the company's STRC stock buyback program from $2 billion to $3 billion. Under the expanded program, the company acquired nearly 1.94 million STRC shares for $193.1 million last week.
The company retains authorization to repurchase up to $1.16 billion in additional STRC shares. Strategy has scheduled an October 28 stockholder vote on a proposal that could allow the company to pay daily STRC dividends in November if approved.
