Strategy purchased an additional 1,665 bitcoins during the week ending September 27, spending approximately $142.7 million, while also spending $151.7 million to repurchase STRC preferred shares.
In its Form 8-K filed on September 28, the company disclosed that Strategy purchased the aforementioned bitcoins between September 21 and September 27 at an average price of $85,681 per bitcoin, inclusive of fees and expenses. Following this purchase, the company’s bitcoin holdings increased to 847,666 bitcoins.
During the same period, Strategy sold 1,469,165 shares of MSTR common stock through its at-the-market (ATM) program, generating net proceeds of $246.2 million. Of this, $142.7 million was used to purchase Bitcoin, and $103.5 million was used for STRC repurchases.
The company did not issue any STRF, STRC, STRK, or STRD preferred shares through its ATM program during the week.
Bitcoin holdings increased to 847,666 BTC
After the latest purchase, the total acquisition cost for the 847,666 bitcoins held by the Strategy is $63.95 billion, with an average cost of $75,437 per bitcoin, including fees and expenses.
This latest purchase follows the acquisition of 950 bitcoins the previous week. Prior to this, Strategy resumed buying after a two-week pause, spending $75.7 million to purchase 950 bitcoins at an average price of $79,670 per coin, increasing its holdings to 846,000 bitcoins.
The latest average buy price for Strategy between September 21 and September 27 was $85,681, higher than Bitcoin's latest market price. According to CoinGecko, Bitcoin's latest trading price is approximately $83,401, about 2.7% lower than Strategy's latest average buy price.
At the current market price, the 847,666 bitcoins held by Strategy are valued at approximately $70.7 billion. This estimate is based on real-time market prices and differs from the acquisition cost recorded by the company.
STRC buyback reaches $151.7 million again
In addition to Bitcoin purchases, Strategy repurchased 1,534,530 shares of variable-rate Series A perpetual Stretch preferred stock, or STRC, for approximately $151.7 million.
This latest transaction continues the buyback program initiated by Strategy in early 2026. According to the filings, as of the end of the most recent week, $723.5 million in authorized capacity remains available under its digital credit securities buyback program.
The previous $174 million STRC buyback occurred between September 14 and September 20, during which the company spent more on preferred share repurchases than its $75.7 million Bitcoin purchase.
Earlier in September, Strategy doubled its digital credit security repurchase authorization limit to $2 billion after spending $176.3 million to repurchase STRC during a week in which it did not buy Bitcoin.
In July, Strategy stated its intention to repurchase STRC when its preferred shares trade below their $100 par value, subject to market conditions, liquidity, and other capital priorities.
MSTR funds two transactions
The strategy funds the latest Bitcoin purchase and part of the STRC buyback by selling MSTR common shares.
Between September 21 and September 27, the company sold 1,469,165 shares of MSTR, raising a net amount of $246.2 million. The filings indicate that $142.7 million was used to purchase Bitcoin, and $103.5 million was used for STRC repurchases.
An additional $48.1 million in STRC buyback funds came from Strategy’s USD cash balance. During the same period, the company also paid $22.1 million in preferred dividends using funds from its separate USD reserve.
As of September 27, Strategy reported an additional $18.84 billion in MSTR issuance capacity under its ATM program. No preferred shares were sold during the latest reporting period.
This financing structure differs from last week, when Strategy did not conduct any ATM stock sales but instead used existing cash to fund Bitcoin purchases and STRC repurchases.
The strategy holds $6.02 billion in assets.
As of September 27, Strategy's USD reserve was $5.02 billion, with $1 billion in USD cash, totaling $6.02 billion.
The company defines the USD Reserve as capital used to support dividend payments on preferred shares and interest payments on outstanding debt. USD Cash is maintained separately for Bitcoin purchases, reserve replenishment, capital management, and other financial purposes.
Since July, this cash framework has changed significantly; at that time, Strategy established a reserve of $3.75 billion, while Bitcoin purchases remained on hold.
The Strategy Board expanded the STRC buyback program in September, while continuing to manage Bitcoin purchases, common stock issuances, and preferred stock obligations through various funding pools.
As of September 27, the company had $723.5 million available under its digital credit securities repurchase authorization and $1 billion available under its separate MSTR common stock repurchase program.