Strategy Buys 1,665 BTC for $142.7M, Lifts Holdings to 847,666—Now Over 4% of Bitcoin's Supply Cap

Strategy disclosed it purchased 1,665 Bitcoin for about $142.7 million, lifting total holdings to 847,666 BTC and pushing its stake above 4% of Bitcoin's 21 million supply limit. In a recent SEC filing, the company said it bought the coins between Sept. 21 and Sept. 27 at an average price of $85,681 per BTC. Executive chairman Michael Saylor said total acquisition costs across Strategy's Bitcoin position are roughly $64 billion, including fees and expenses. Across all holdings, Strategy reported an average purchase price of $75,437 per BTC. Based on an estimated market value of about $70.6 billion, the position reflects roughly $6.6 billion in unrealized gains. The filing also outlined how the purchase and other capital actions were funded. During the week, Strategy sold 1,469,165 Class A common shares for about $246.2 million via its at-the-market program. As of Sept. 27, the company said $18.84 billion of MSTR shares remained available for issuance and sale under that program. Strategy identified $103.5 million from MSTR share sales and $48.1 million from its USD Cash reserve among the sources supporting the period's activity. The amounts exceed the reported Bitcoin purchase cost, though the company did not provide a transaction-level breakdown. Alongside the Bitcoin buying, Strategy spent about $151.7 million to repurchase 1,534,530 STRC preferred shares during the same reporting period. It also used $22.1 million from its USD Reserve to pay preferred dividends. As of Sept. 27, Strategy reported $5.02 billion in its USD Reserve and $1.0 billion in a separate USD Cash balance. The company has proposed moving STRC, STRD, STRF and STRK to daily dividends, subject to a shareholder vote on Oct. 28. The change would adjust payment frequency without raising dividend rates or total regular dividend obligations; STRC would shift first in November, with the other three securities following in January if approved. Saylor's recent public comments have framed Strategy's thesis for holding Bitcoin. In August, he described Bitcoin as "digital economic energy" that can be securely controlled and transferred, a view he has linked to the company's treasury strategy. Ahead of the SEC filing, Saylor posted the firm's acquisition tracker with the caption "A little more orange," and the filing later confirmed the 1,665 BTC addition. Strategy shares rose 16.1% over the prior week and closed Friday at $158.61. Bitcoin gained 3.6% over the same period.