🟠 Strategy is back to buying Bitcoin after a three-week pause — but the way it funded this purchase may be the bigger story.
Strategy bought 950 BTC for about $75.7 million, bringing its total holdings to roughly 846,000 BTC.
What stands out is that the company did not issue new shares through its ATM program during the week of September 14–20. Instead, the Bitcoin purchase was funded from its existing USD cash reserves.
At the same time, Strategy bought back around $174 million worth of STRC preferred shares — more than twice the amount spent on Bitcoin.
That suggests the company is doing more than simply accumulating BTC. It is also actively managing its capital structure and balance sheet.
The numbers are already massive:
• 846,000 BTC held
• Average purchase price around $75.4K per BTC
• Approximately $63.8B invested in total
• Around $8B in unrealized gains with BTC near $85K
• More than 4% of Bitcoin’s maximum 21M supply
And Strategy still reported about $5.04B in USD reserve plus $1.05B in cash as of September 20.
The interesting part isn't just the 950 BTC purchase. It’s the fact that Strategy was able to keep accumulating without relying on another round of equity issuance.
Strategy’s Bitcoin strategy is clearly entering another phase.
$BTC
Strategy bought 950 BTC for about $75.7 million, bringing its total holdings to roughly 846,000 BTC.
What stands out is that the company did not issue new shares through its ATM program during the week of September 14–20. Instead, the Bitcoin purchase was funded from its existing USD cash reserves.
At the same time, Strategy bought back around $174 million worth of STRC preferred shares — more than twice the amount spent on Bitcoin.
That suggests the company is doing more than simply accumulating BTC. It is also actively managing its capital structure and balance sheet.
The numbers are already massive:
• 846,000 BTC held
• Average purchase price around $75.4K per BTC
• Approximately $63.8B invested in total
• Around $8B in unrealized gains with BTC near $85K
• More than 4% of Bitcoin’s maximum 21M supply
And Strategy still reported about $5.04B in USD reserve plus $1.05B in cash as of September 20.
The interesting part isn't just the 950 BTC purchase. It’s the fact that Strategy was able to keep accumulating without relying on another round of equity issuance.
Strategy’s Bitcoin strategy is clearly entering another phase.
$BTC
