Strategy resumed Bitcoin purchases after a two-week pause, acquiring 950 BTC for $75.7 million between Monday and Sunday, according to a Form 8-K filing with the US Securities and Exchange Commission. The average purchase price was $79,670 per coin.
The acquisition expanded Strategy's total Bitcoin holdings to 846,000 BTC, purchased for approximately $63.8 billion at an average cost of $75,416 per Bitcoin including fees and expenses. At the time of the filing, Bitcoin was trading at $84,925, giving Strategy an unrealized gain of roughly $8.05 billion on its holdings.
Strategy's stock price rose 7.4% to $165.2 in pre-market trading on Monday. The company is the largest publicly traded Bitcoin treasury company in the world.
Preferred Stock Repurchase Program
Simultaneously with its Bitcoin purchases, Strategy repurchased approximately 1.77 million shares of its STRC perpetual preferred stock for $174 million during the same week. STRC shares rose 0.35% to $98.85 during Monday's pre-market trading.
Strategy reported $875.1 million remaining available under its preferred-stock repurchase program and $1 billion remaining under its MSTR share repurchase program.
Cash Positions
Strategy's USD Cash balance declined nearly 20% to $1.05 billion from $1.30 billion the previous week. The company's separate USD Reserve fell to $5.04 billion from $5.10 billion as Strategy deployed $57.4 million to pay preferred-stock dividends and interest on outstanding debt.
USD Cash is designated for broader treasury purposes including Bitcoin purchases and capital management, while USD Reserve is intended primarily to support preferred-stock dividends and debt interest payments.
The company reported no sales under its at-the-market offering programs between September 14 and September 20.
