Strategy buys 950 Bitcoin for $75.7 million as shares rise 8%

Strategy acquired 950 Bitcoin for $75.7 million between Sept. 14 and Sept. 20, according to a Monday 8-K filing with the SEC. The average purchase price was $79,670 per Bitcoin. Strategy's total holdings rose to 846,000 Bitcoin, worth roughly $71.9 billion, with an average purchase price of $75,416 per coin and a total cost of $63.8 billion including fees. The holdings represent more than 4% of Bitcoin's 21 million coin supply cap and imply roughly $8.1 billion in paper gains at current prices. The purchase followed two straight weeks without Bitcoin acquisitions through Sept. 13, when Strategy directed capital toward repurchasing STRC preferred shares as the stock struggled to hold par value. It also followed a single Aug. 31 purchase of 4,603 Bitcoin, which ended a two-month buying freeze. Strategy repurchased 1.77 million STRC preferred shares for about $174 million and used $57.4 million to fund preferred-stock dividends and interest on outstanding debt. As of Sept. 20, its USD Reserve was $5.04 billion and its USD Cash balance was $1.05 billion. Executive Chairman Michael Saylor posted Strategy's acquisition tracker on X on Sunday with the caption "A little more orange," a type of post that has historically preceded purchase announcements. MSTR closed Friday up 16.39% at $153.92 after moving above its descending trendline from the May high of $199 and reclaiming its 200-day EMA at $152.12 for the first time since that peak. The shares reached $167.25 on Monday, up 8.6% at the time of publication. The next major level identified for MSTR was $180, described as the May consolidation zone, while $152.12 was identified as Friday's breakout level.