Michael Saylors Strategy resumed buying Bitcoin after a two-week pause while continuing to repurchase its STRC preferred stock.
Strategy acquired 950 Bitcoin (BTC) for $75.7 million at an average price of $79,670 per coin between Monday and Sunday, according to a Form 8-K filing with the US Securities and Exchange Commission on Monday.
The purchase brought Strategys holdings to 846,000 BTC, acquired for about $63.8 billion at an average cost of $75,416 per Bitcoin, including fees and expenses. With Bitcoin trading at $84,925 at the time of publication, Strategy was sitting on an unrealized gain of about $8.05 billion on its holdings.
The purchase comes as Strategy balances its Bitcoin accumulation strategy with managing a growing collection of preferred securities and billions of dollars in cash reserves.
Shares of Strategy, the largest publicly traded Bitcoin treasury company in the world, rose 7.4% to $165.2 in pre-market trading on Monday, according to Yahoo Finance data. Strive, the worlds fifth-largest corporate Bitcoin holder, also announced Bitcoin buys on Monday. It added 1,355 BTC last week, bringing its total to 26,355 coins. Its shares rose 6.44% to $32.03.
Strategy spends $174 million buying back STRC
Strategy continued buying back its perpetual preferred stock, STRC, repurchasing about 1.77 million shares for $174 million during the same week.
STRC rose 0.35% to $98.85 during Mondays pre-market trading.
Strategy said it still had $875.1 million available under its preferred-stock repurchase program and $1 billion remaining under its MSTR share repurchase program.
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The company also reported no sales under its at-the-market offering programs between Sept. 14 and Sept. 20, meaning it did not raise funds through those programs during the period.
Strategys deployable cash drops
Strategys “USD Cash” balance fell nearly 20% to $1.05 billion from $1.30 billion a week earlier, when the company reported its previous cash balance.
Its separate “USD Reserve” declined to $5.04 billion from $5.10 billion as Strategy used $57.4 million to pay preferred-stock dividends and interest on outstanding debt.
Strategy uses USD Cash for broader treasury purposes, including Bitcoin purchases and capital management, while its USD Reserve is intended primarily to support preferred-stock dividends and debt interest.
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