Strategy continues buying Bitcoin. Michael Saylor’s company has just acquired an additional 334 BTC for 28.7 million dollars, bringing its total reserve to exactly 848,000 BTC. The average pr
Strategy continues buying Bitcoin. Michael Saylor’s company has just acquired an additional 334 BTC for 28.7 million dollars, bringing its total reserve to exactly 848,000 BTC. The average price of the last purchase reached 85,838.80 dollars. In total, the company has now devoted nearly 63.97 billion dollars to its immense Bitcoin treasury.
Purchases were made between October 1 and 4. Strategy thus increased from 847,666 to exactly 848,000 BTC. The company had already raised its reserves to 846,842 BTC after a 100 million dollar purchase in June. Accumulation has continued since, with some pauses.
The latest purchase represents 28.7 million dollars. Strategy paid an average of 85,838.80 dollars for each of the 334 Bitcoin, significantly more than its historical average acquisition price.
On all its 848,000 BTC, the group now shows an average cost of about 75,440.70 dollars per Bitcoin. The total cost approaches 63.97 billion dollars.
By itself, Strategy’s stock represents a little more than 4% of the 21 million bitcoins that will ever exist. 334 BTC seem almost small in comparison.
Your 1st cryptos with BinanceThis link uses an affiliate program.Strategy did not fully draw from its treasury to finance the operation. Between October 1 and 4, the company sold 92,894 MSTR shares and recovered about 15.7 million dollars net. The remaining 13 million was financed directly with its dollar cash.
The method is well known. Strategy regularly uses financial markets to raise capital before redirecting it to Bitcoin. At the end of August, the company had already resumed its purchases with 4,603 BTC acquired for 369.7 million dollars.
But the company no longer automatically devotes all raised money to BTC. During the same period from October 1 to 4, it also spent 73.7 million dollars repurchasing 740,634 STRC shares. Between September 28 and 30, 102.6 million had already been devoted to these buybacks.
Strategy now juggles accumulation of Bitcoin, dollar reserves, and management of its different financial instruments. Michael Saylor also states that the group has 5.7 billion dollars in dollar assets. Enough to maintain some margin.
The rise of Bitcoin has greatly inflated the group’s accounts. Strategy estimates its third-quarter gain on digital assets at about 20.91 billion dollars. As of September 30, the book value of its digital assets reached about 70.82 billion dollars.
A few weeks earlier, accumulation had slowed. On September 20, Strategy still held 845,050 BTC after two weeks without a new purchase. The pause didn’t last. The company now holds 848,000 BTC and continues buying despite an average price higher than that paid for its entire position.
This difference is starting to matter. The last batch cost 85,838.80 dollars per BTC, versus about 75,440.70 dollars for the entire reserve. Strategy is therefore buying more expensively than before. But amounts are also getting smaller. The 334 BTC this week are far from the acquisitions of several thousand bitcoins observed at other times of the year.
The general strategy does not really change. Since 2020, Michael Saylor has transformed his company’s balance sheet around Bitcoin. Six years later, Strategy now owns more than 4% of the network’s maximum supply. 848,000 BTC. And still no sign of a definitive stop.
