Key Takeaways
- • Strategy purchased 811 BTC for approximately $65.5 million at an average price of $80,846 per bitcoin, lifting its total holdings to 849,327 BTC, according to an official disclosure.
- • The company repurchased 2,092,035 shares of its Variable Rate Series A Perpetual Stretch (STRC) preferred stock for approximately $208.2 million, more than three times its bitcoin spending during the reporting period.
- • Strategy funded the bitcoin purchase by selling 1,178,552 MSTR common shares through its at-the-market program for net proceeds of about $164 million, with $98.5 million added to USD Cash.
- • USD Cash fell to $132.7 million after the buyback, while the separate USD Reserve stood at $4.79 billion as of November 1; about $748.6 million remains under the preferred-stock repurchase authorization.
Summary
Strategy, led by Michael Saylor, disclosed that it bought 811 bitcoin for approximately $65.5 million in transactions covering October 26 to November 1. The purchase brings the company's total holdings to 849,327 BTC, acquired for roughly $64.08 billion at an average cost of $75,451 per coin including fees and expenses. The purchase marks a return to bitcoin buying after no purchases the prior week; its last acquisition had been in mid-October, when it bought 267 BTC for $22.1 million.
The bitcoin acquisition was funded through the company's at-the-market offering program, which sold 1,178,552 shares of MSTR common stock for net proceeds of approximately $164 million. Of that amount, $65.5 million went to bitcoin and the remaining $98.5 million was added to USD Cash. MSTR shares had slipped following the company's Q3 earnings report the prior week, but the stock gained nearly 3% at press time after the bitcoin disclosure.
Alongside the bitcoin purchase, Strategy repurchased 2,092,035 STRC preferred shares for approximately $208.2 million, funded entirely from USD Cash. The company has said it intends to regularly repurchase STRC when it trades below its $100 stated value. Strategy also used $43.4 million from its USD Reserve to pay preferred-stock dividends during the week. Following the transactions, USD Cash declined to $132.7 million while the USD Reserve stood at $4.79 billion as of November 1.
The buyback spending exceeded bitcoin spending by more than three to one during the period, following a one-week pause in purchases between October 19 and October 25, when the company spent $204.9 million repurchasing STRC shares. Separately, Strategy shareholders approved daily dividends on STRC and three other preferred stocks.
The bitcoin acquisition was funded through the company's at-the-market offering program, which sold 1,178,552 shares of MSTR common stock for net proceeds of approximately $164 million. Of that amount, $65.5 million went to bitcoin and the remaining $98.5 million was added to USD Cash. MSTR shares had slipped following the company's Q3 earnings report the prior week, but the stock gained nearly 3% at press time after the bitcoin disclosure.
Alongside the bitcoin purchase, Strategy repurchased 2,092,035 STRC preferred shares for approximately $208.2 million, funded entirely from USD Cash. The company has said it intends to regularly repurchase STRC when it trades below its $100 stated value. Strategy also used $43.4 million from its USD Reserve to pay preferred-stock dividends during the week. Following the transactions, USD Cash declined to $132.7 million while the USD Reserve stood at $4.79 billion as of November 1.
The buyback spending exceeded bitcoin spending by more than three to one during the period, following a one-week pause in purchases between October 19 and October 25, when the company spent $204.9 million repurchasing STRC shares. Separately, Strategy shareholders approved daily dividends on STRC and three other preferred stocks.
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