Strategy disclosed on September 28 that it purchased 1,665 bitcoin for approximately $142.7 million between September 21 and September 27, with an average purchase price of $85,681 per coin.
The latest acquisition brings Strategy's total bitcoin holdings to 847,666 BTC, acquired for an aggregate cost of approximately $63.95 billion including fees and expenses. This gives the company an average acquisition price of $75,437 per bitcoin.
Strategy financed the bitcoin purchase in part through its at-the-market program, selling roughly 1.47 million shares of common stock for approximately $246.2 million in net proceeds. Of that amount, about $142.7 million went toward bitcoin acquisition.
Preferred Share Repurchase
During the same week, Strategy bought back approximately 1.53 million shares of STRC preferred stock for around $151.7 million in total. The remaining cost of that repurchase was funded with roughly $48.1 million of existing cash.
Another $103.5 million from the stock sale proceeds went toward the preferred share repurchase.
Capital Structure Management
The transactions reflect Strategy's approach to managing its increasingly complex balance sheet, which includes common shares, convertible debt, and several classes of preferred securities. The company is simultaneously issuing common stock, increasing its bitcoin position, and reducing the amount of preferred securities outstanding.
The bitcoin purchases follow Strategy's acquisition of 950 BTC the previous week, making this week's purchase a separate transaction.
