Key Points
- Michael Saylor’s Strategy acquired 334 Bitcoin during the first four days of October, spending $28.7 million at an average cost of $85,838 per coin.
- The company’s Bitcoin treasury has grown to 848,000 BTC, currently valued at approximately $73 billion.
- Financing came through a combination of selling $15.7 million in MSTR shares and drawing $13 million from cash holdings.
- The firm also repurchased approximately 1.7 million STRC preferred shares for roughly $176 million.
- MSTR shares climbed about 2% to trade near $163, extending monthly gains to around 30%.
Shares of Strategy traded at approximately $163 during Monday’s session, gaining nearly 2% following the company’s announcement of its latest Bitcoin acquisition. Michael Saylor’s enterprise purchased 334 BTC during the October 1-4 period, deploying roughly $28.7 million at an average acquisition cost of $85,838.80 per token.
The transaction represents a relatively modest addition compared to Strategy’s larger acquisitions throughout 2025. The purchase comes approximately two weeks after the company acquired 1,665 BTC, signaling renewed accumulation following a brief period that included some Bitcoin sales.
Strategy’s Bitcoin position has expanded to 848,000 BTC. Based on current market valuations, this reserve carries an approximate value of $73 billion. The firm’s aggregate investment in Bitcoin totals just below $64 billion, representing an average acquisition price of $75,440.70 per coin.
The company financed this recent purchase through a dual approach: selling 92,894 MSTR shares that generated $15.7 million in proceeds, while drawing the remaining $13 million from its USD Cash holdings.
Under its at-the-market offering program, Strategy maintains $18.8 billion worth of MSTR shares available for potential sale. The company has increasingly relied on this funding mechanism recently, as its STRC preferred stock currently trades below its $100 par value, diminishing its appeal as a capital-raising instrument.
Preferred Stock Repurchase Activity
In a separate transaction last week, Strategy repurchased 1.77 million shares of STRC preferred stock for approximately $176.3 million. The firm allocated $154.1 million from its USD Cash reserve toward this buyback, supplemented by $22.2 million derived from interest income on cash holdings and short-term investments.
Additionally, Strategy deployed $142.5 million from reserves to satisfy preferred stock dividend obligations and service debt interest payments. Following these transactions, the company’s USD Reserve balance stood at $4.88 billion as of October 4, with USD Cash specifically totaling $833.4 million.
STRC shares are currently trading around $99, slightly below the $100 par value. This represents a significant recovery from the stock’s 2026 trough near $74.
MSTR Stock Performance Analysis
MSTR has experienced significant volatility throughout the year. Over the trailing twelve-month period, the stock has declined 48%, though recent weeks have shown notable improvement.
Year-to-date performance metrics show marginal variation across data sources, with some indicators showing MSTR up approximately 3% while others suggest near-breakeven performance. Regardless of the precise figure, the stock has surged roughly 30% during the past month, coinciding with Bitcoin’s price recovery.
The company disclosed an unrealized gain approaching $21 billion on its Bitcoin treasury during the third quarter, directly attributable to cryptocurrency market strength. This substantial gain underscores the correlation between MSTR’s valuation and Bitcoin price movements.
Saylor commemorated the purchase with his characteristic enthusiasm, sharing a visualization of Strategy’s Bitcoin acquisition history on X with the message “More orange than ever.” While these social media posts have historically aligned with purchase disclosures, the correlation has been less predictable in recent months.
Strategy’s Bitcoin position now accounts for more than 4% of the cryptocurrency’s fixed 21 million coin supply ceiling. Data from Bitcoin Treasuries indicates that 196 publicly traded companies currently maintain Bitcoin positions on their corporate balance sheets.
Among Strategy’s peers, the next-largest holders include Metaplanet with 44,000 BTC, Twenty One with 43,514 BTC, MARA holding 35,577 BTC, and Bitcoin Standard Treasury Company with 30,021 BTC. Strategy’s position substantially exceeds all competitors in absolute terms.
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