Strategy Adds 950 Bitcoin, Lifting Its Treasury to 846,000 BTC

Strategy’s latest Bitcoin purchase came from its cash reserve, not a fresh stock sale: the company spent $75.7 million on 950 BTC between Sept. 14 and Sept. 20, according to its Sept. 21 filing. The average price was $79,670 per coin.

The acquisition lifted Strategy’s stash to 846,000 BTC. That pile was worth about $71.9 billion at prices reported after the filing, while the company’s cumulative purchase cost, including fees and expenses, stood at roughly $63.8 billion. The often-cited $74 billion value is not a fixed balance; the market value shifts with Bitcoin’s price.

The purchase followed a three-week stretch without a reported addition. It also leaves Strategy’s holdings just below their June peak of 847,363 BTC: the company sold Bitcoin in several reported transactions over the summer before resuming purchases in August. Its latest buy adds to the position, but does not erase that earlier pullback.

Strategy made the purchase while also repurchasing about $174 million of its STRC preferred shares. The company reported using $57.4 million from its separate USD Reserve to pay preferred dividends and interest on outstanding debt during the same week. As of Sept. 20, it listed $1.05 billion in USD Cash and $5.04 billion in USD Reserve. The figures show the competing demands on its funding: adding Bitcoin, managing preferred-stock obligations and servicing debt.

For investors, the latest buy reinforces how closely Strategy’s balance sheet and stock remain tied to Bitcoin. The company’s own ledger puts its average acquisition price at $75,416 per coin, below the $79,670 paid for this batch. A falling Bitcoin price would reduce the market value of its holdings, while a sustained rally would enlarge the paper gain. Neither outcome changes the company’s purchase cost, but both can shift how investors value MSTR, whose fortunes have become a high-profile proxy for the cryptocurrency.