Strategy buys 950 BTC for $75.7M, nearing June record

Michael Saylor's Bitcoin treasury company Strategy purchased 950 BTC for $75.7 million during the week ended September 20, an 8-K filed Monday reveals. The transaction was executed at an average price of $79,670 per coin, inclusive of fees. This acquisition brings the company's total holdings to 846,000 BTC, valued at $63.80 billion with a blended average cost of $75,416 per coin.

The latest purchase places Strategy within 1,363 coins of its all-time high. According to BitcoinTreasuries data, the company held a record 847,363 BTC on June 22. At the current buying pace, a two-week period would be sufficient to surpass that previous peak. The path to this level required two months of accumulation after summer sales reduced the stack to 840,447 BTC by August 10, the lowest point since May. Since that low, Strategy has added 5,553 coins.

The $79,670 average purchase price for this week's BTC stands $15,408 above the $64,262 average realized from the sale of 1,690 BTC in the week to August 9. It also exceeds the company's own blended cost basis by approximately $4,250 per coin.

Capital allocation for the period favored share repurchases over Bitcoin accumulation. Strategy spent $174.0 million repurchasing 1,771,238 STRC preferred shares, an increase from the $139.3 million spent in the prior week. The company did not repurchase any STRF, STRK, STRD, or MSTR stock. Both the Bitcoin and preferred stock outlays were funded from the USD Cash pool, which management established last month for corporate purposes. This pool decreased by $249.7 million to $1.05 billion as of September 20, down from $1.30 billion a week earlier.

Strategy did not sell shares under its at-the-market offering program during this period, following a single week in August when it raised $333.7 million through that mechanism. An additional $57.4 million was drawn from the USD Reserve, which covers preferred dividends and interest payments, reducing that reserve to $5.04 billion.

The company maintains significant unused capacity across its various programs. Approximately $875.1 million remains available under the digital credit securities repurchase program, while a separate $1 billion authorization for MSTR common stock buybacks remains untouched. Strategy's willingness to sell Bitcoin emerged in May, when it broke a long-held refusal to dispose of assets. Over the summer, it sold 6,948 BTC for approximately $432.5 million under a June capital framework that permits up to $1.25 billion in sales. Around $820 million of that authorized sales capacity remains unused.