Michael Saylor's (@saylor) Strategy (@Strategy) now holds 848,250 Bitcoin ($BTC) after buying another 250 BTC for $21.5 million last week, a small addition by the company's usual standards. T
Michael Saylor's (@saylor) Strategy (@Strategy) now holds 848,250 Bitcoin ($BTC) after buying another 250 BTC for $21.5 million last week, a small addition by the company's usual standards.
The company acquired the Bitcoin between October 5 and October 11 at an average price of $86,194 per coin, including fees, according to a Monday announcement.It funded $21 million of the purchase through sales of its common stock and the remaining $500,000 with existing cash.Total holdings have cost about $64 billion, at an average of $75,444 per Bitcoin.
The latest buy fits a broader slowdown. It marked a second consecutive weekly decline in purchases.Strategy acquired 7,218 Bitcoin during the third quarter while selling 5,553 BTC, leaving it with 847,666 BTC at the end of September, up from 846,000 BTC at the end of June.That compares with Q2, when holdings rose nearly 11% from 762,099 BTC to 846,000 BTC.
The company's own regulatory filings show the pace of recent weekly purchases. In the week to October 4, it bought 334 BTC for $28.7 million, taking holdings to 848,000 BTC.
Strategy spent far more on its preferred stock than on Bitcoin last week. It repurchased 1,932,145 STRC shares for $192.4 million, an average of about $99.58 per share.That is up from $176.3 million the week before.After the purchases, $354.8 million remains available under the digital credit securities repurchase program, down from $547.2 million a week earlier.
The company also disclosed its cash position. As of October 11, the USD Reserve was $4.88 billion and USD Cash was $640.5 million, about $5.5 billion combined. Under Strategy's capital framework, the USD Reserve is intended to support the payment of dividends on its preferred stock and interest on its outstanding indebtedness.
The spending mix has drawn attention from analysts. Independent analyst Shanaka Anslem Perera noted that Strategy raised $5.41 billion from new common shares in the third quarter and ended the period with 1,666 more BTC than it held at the end of June. His view, as reported by Cointelegraph, was that raising capital does not necessarily mean buying bitcoin.
For investors in $MSTR, the key question is how the company balances Bitcoin purchases against support for its preferred stock and its cash reserves in the coming weeks.
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