Strategy sets Bitcoin holdings record after $143 million purchase

Strategy bought 1,665 BTC for $142.7 million, bringing its holdings to a record 847,666 BTC. A Monday filing with the Securities and Exchange Commission listed an average purchase price of $85,681 per Bitcoin. Strategy has acquired its total holdings for $63.95 billion at an average price of $75,437 per Bitcoin. BitcoinTreasuries reported that the previous record was 847,363 BTC on June 22. Strategy sold Bitcoin during the summer before resuming purchases in August. The latest purchase was funded with proceeds from MSTR common stock sales through the company's at-the-market offering program. Strategy sold 1.47 million MSTR shares during the week, generating $246.2 million in net proceeds. The company allocated $142.7 million of those proceeds to Bitcoin purchases. It allocated $103.5 million to STRC repurchases. Separately, Strategy repurchased 1.53 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC, for $151.7 million. Strategy is seeking to take advantage of STRC trading below its stated amount. Its latest filing says $723.5 million remains available under the digital credit securities repurchase program. Strategy has described STRC repurchases as part of its broader capital-allocation strategy. Last week, the company proposed daily dividend accrual on STRF, STRC, SREK and STRD to dampen volatility. Strategy sold 6,948 BTC between May and August, according to previous disclosures, before it began rebuilding its holdings. Strategy reported $6.02 billion in USD assets as of September 27. An 8-K lists $5.02 billion in the USD Reserve. It lists $1 billion in USD Cash. The USD Reserve is a dedicated dollar fund for preferred-stock dividends and debt interest. USD Cash is a separate pool established last month. The company can use USD Cash for Bitcoin purchases, increasing the reserve and other capital-management purposes. During the latest week, Strategy used $48.1 million of USD Cash to fund STRC repurchases. The company used $22.1 million from the USD Reserve to pay preferred-stock dividends. Strategy has previously said its capital framework allows it to sell up to $1.25 billion worth of Bitcoin to fund its USD Reserve, preferred-stock dividends, debt interest and repurchases of MSTR or preferred securities. The latest weekly disclosure showed Strategy buying Bitcoin for a second consecutive week.