Strategy's Bitcoin holdings near June record after 950 BTC buy

Strategy bought 950 BTC for $75.7 million in the week to September 20, according to an 8-K filed Monday. The purchase had an average price of $79,670 per coin, including fees. Strategy's holdings reached 846,000 BTC, acquired for $63.80 billion at an average cost of $75,416 per coin. The holdings were 1,363 BTC below the record of 847,363 BTC that Strategy held on June 22, which BitcoinTreasuries lists as the company's largest reported stack. The current holdings were 0.2% below that record, and two weeks of buying at the latest pace would exceed it. Strategy's holdings had fallen to 840,447 BTC by August 10 after summer sales, their lowest level since May. The company has added 5,553 BTC since then. The latest average purchase price was $15,408 higher than the $64,262 average price for the 1,690 BTC that Strategy sold in the week to August 9. It was also about $4,250 above Strategy's blended cost basis. Strategy spent $174.0 million repurchasing 1,771,238 STRC preferred shares, compared with $139.3 million the previous week. It bought back none of its STRF, STRK, STRD or MSTR stock. The Bitcoin purchase and preferred-share repurchase were funded from USD Cash, a pool management established the previous month for Bitcoin purchases, buybacks and general corporate purposes. USD Cash fell to $1.05 billion on September 20 from $1.30 billion a week earlier, a $249.7 million draw that nearly matched the two purchases combined. Strategy sold no shares under its at-the-market offering program during the period. It had raised $333.7 million through that program in one week in August. A further $57.4 million was taken from the USD Reserve, which backs preferred dividends and interest payments, leaving $5.04 billion in that reserve. About $875.1 million remains under the digital credit securities repurchase program. A separate $1 billion authorization for MSTR common-stock repurchases remains untouched. Strategy sold 6,948 BTC for about $432.5 million over the summer after ending a long-held refusal to sell in May. A June capital framework allowed up to $1.25 billion of sales, leaving about $820 million of that capacity unused.