Strategy buys 1,665 Bitcoin for $142.7 million after Saylor’s “Even more orange” post

Strategy bought 1,665 bitcoin for $142.7 million last week. A Monday 8-K filing says the purchase occurred between Sept. 21 and Sept. 27 at an average of $85,681 per bitcoin. This was Strategy’s second consecutive weekly purchase. Strategy’s total holdings stand at 847,666 bitcoin. The company acquired those holdings for $63.95 billion at an average of $75,437 per bitcoin. Strategy funded this purchase by selling stock, unlike in recent weeks. It sold 1.47 million MSTR shares through its at-the-market program for $246.2 million in net proceeds. Strategy used $142.7 million of the proceeds to buy bitcoin. It allocated $103.5 million to STRC preferred share buybacks. Strategy repurchased 1.53 million STRC shares for $151.7 million. It covered the remaining $48.1 million from its cash balance. The USD reserve holds $5.02 billion after $22.1 million went to preferred dividends. Strategy also has $1 billion in additional cash. Strategy has $723.5 million remaining for preferred repurchases. It has authorization for $1 billion in MSTR buybacks. The week before, Strategy bought 950 bitcoin for $75.7 million. The two purchases together total 2,615 bitcoin for $218.4 million. The previous week’s purchase used the USD reserve. Michael Saylor posted “Even more orange” on Sunday. Similar tracker posts have typically preceded Monday purchase announcements. MSTR closed Friday at $158.61, down 1.86%. MSTR had reclaimed its 200-day EMA at $152.68. It had also broken the descending trendline from May’s highs. Premarket trading was near $157.43, down 0.5%. The SAR stood at $133.46, below the price, and the article described the uptrend as intact. The recent swing high at $169.52 was identified as resistance. The 200-day EMA at $152.68 was identified as support.