Strategy bought $BTC again — without ATMs. 950 coins for cash, and twice as much went to the STRC buyback.
Numbers. SEC 8-K dated Sept 21: from Sept 14–20 Strategy bought 950 $BTC for 75,7$ million (average $79,670). The stack is now 846,000 $BTC worth 63,80$ billion (average $75,416). Source — USD Cash; ATMs this week = 0. In parallel, 174$ million for the buyback (~1.77 million shares of STRC) — more than for bitcoin. As of Sept 20: USD Cash 1,05$ billion + Reserve 5,04$ billion = 6,09$ billion. $BTC around 85 500$ — above their average purchase price for this tranche.
My take: the buy size is tiny (+0.1% to the stack). The signal is elsewhere: after a two-week pause, they returned to cash without diluting shares. But capital first covers the preferred (174$ vs 75.7$), and then tops up with $BTC. This is a treasury prioritized for obligations, not “buy at any cost”.
Question: the next 8-K — again cash without ATMs, or a return to dilution to keep the accumulation pace going?
$BTC #Bitcoin #Strategy
Numbers. SEC 8-K dated Sept 21: from Sept 14–20 Strategy bought 950 $BTC for 75,7$ million (average $79,670). The stack is now 846,000 $BTC worth 63,80$ billion (average $75,416). Source — USD Cash; ATMs this week = 0. In parallel, 174$ million for the buyback (~1.77 million shares of STRC) — more than for bitcoin. As of Sept 20: USD Cash 1,05$ billion + Reserve 5,04$ billion = 6,09$ billion. $BTC around 85 500$ — above their average purchase price for this tranche.
My take: the buy size is tiny (+0.1% to the stack). The signal is elsewhere: after a two-week pause, they returned to cash without diluting shares. But capital first covers the preferred (174$ vs 75.7$), and then tops up with $BTC. This is a treasury prioritized for obligations, not “buy at any cost”.
Question: the next 8-K — again cash without ATMs, or a return to dilution to keep the accumulation pace going?
$BTC #Bitcoin #Strategy