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Strategy buys another 1,665 bitcoins, bringing its holdings to 847,666—an all-time high; Bitmine holds ETH equal to 4.9% of supply
Strategy bought more coins again. On September 28, the bitcoin treasury company filed an 8-K report with the U.S. Securities and Exchange Commission, revealing that from September 21 to 27 it purchased 1,665 bitcoins for approximately $142.7 million. It also repurchased about $151.7 million worth of STRC preferred stock. Executive Chairman Michael Saylor said that as of September 27, Strategy held 847,666 bitcoins and $6.02 billion in cash assets, with the number of bitcoins held hitting a new high. Based on the average purchase price of $85,681 per bitcoin, the book profit is about $6.75 billion.
According to Wu and lookonchain, Strategy’s average purchase price for this batch of bitcoins was about $85,681. The average cost for its total holdings of 847,666 bitcoins was about $75,437. Using the current price, the unrealized book profit is about $6.75 billion, with a return rate of about 10.6%.
The Block noted that Strategy’s bitcoin holdings account for about 4% of the 21 million BTC total supply cap. The day before, Saylor had already teased on X “more orange.”
Regarding funding sources, Cointelegraph reported that last week Strategy sold about 1.47 million shares of MSTR common stock, raising approximately $246.2 million to buy more bitcoin and repurchase STRC.
Alongside repurchasing STRC, the company continues its “collect income every day” strategy. This time, Strategy both bought coins and repurchased 1,534,530 shares of STRC preferred stock. STRC has been trading below the $100 par value since May. As previously reported, Strategy proposed converting four types of preferred stock, including STRC, to daily dividend payments. The goal is to reduce price volatility and bring STRC closer to its par value.
On the same day, Saylor also updated STRC’s credit indicators on X, saying that its bitcoin credit spread has narrowed to 49 basis points.
Bitmine holds 6 million ETH, or 4.9% of supply—another treasury company is also adding to its position. Decrypt reported that Tom Lee’s Bitmine purchased approximately $47 million worth of ETH again last week. Its holdings reached 4.9% of Ethereum’s supply. Of that, 84% has already been staked. Bitmine estimates it can generate about $358 million in annual staking rewards.
On-chain analyst Yu Yan calculated that Bitmine bought 17,362 ETH last week and currently holds about 6 million ETH.
In addition, listed company Strive also bought 1,107 bitcoins last week, bringing the combined total with Strategy to about 2,773 bitcoins.
Treasury companies remain steady buyers. Earlier this week, Bitcoin briefly dipped below $83,000, and market sentiment was weighed down by the situation between Iran and the U.S. and expectations of rate hikes, but treasury-company buying did not stop. For the market, the weekly, fixed purchases by Strategy and Bitmine are among the few steady spot-demand sources today. Moreover, Strategy’s model of raising capital by issuing common stock to buy bitcoin keeps ongoing attention on the correlation between MSTR’s share price and the bitcoin price.
This article first appeared in 1,665 bitcoins—Strategy bought another 1,665 bitcoins, bringing its holdings to 847,666—an all-time high; Bitmine holds ETH equal to 4.9% of supply.
Strategy buys another 1,665 bitcoins, bringing its holdings to 847,666—an all-time high; Bitmine holds ETH equal to 4.9% of supply
Strategy bought more coins again. On September 28, the bitcoin treasury company filed an 8-K report with the U.S. Securities and Exchange Commission, revealing that from September 21 to 27 it purchased 1,665 bitcoins for approximately $142.7 million. It also repurchased about $151.7 million worth of STRC preferred stock. Executive Chairman Michael Saylor said that as of September 27, Strategy held 847,666 bitcoins and $6.02 billion in cash assets, with the number of bitcoins held hitting a new high. Based on the average purchase price of $85,681 per bitcoin, the book profit is about $6.75 billion.
According to Wu and lookonchain, Strategy’s average purchase price for this batch of bitcoins was about $85,681. The average cost for its total holdings of 847,666 bitcoins was about $75,437. Using the current price, the unrealized book profit is about $6.75 billion, with a return rate of about 10.6%.
The Block noted that Strategy’s bitcoin holdings account for about 4% of the 21 million BTC total supply cap. The day before, Saylor had already teased on X “more orange.”
Regarding funding sources, Cointelegraph reported that last week Strategy sold about 1.47 million shares of MSTR common stock, raising approximately $246.2 million to buy more bitcoin and repurchase STRC.
Alongside repurchasing STRC, the company continues its “collect income every day” strategy. This time, Strategy both bought coins and repurchased 1,534,530 shares of STRC preferred stock. STRC has been trading below the $100 par value since May. As previously reported, Strategy proposed converting four types of preferred stock, including STRC, to daily dividend payments. The goal is to reduce price volatility and bring STRC closer to its par value.
On the same day, Saylor also updated STRC’s credit indicators on X, saying that its bitcoin credit spread has narrowed to 49 basis points.
Bitmine holds 6 million ETH, or 4.9% of supply—another treasury company is also adding to its position. Decrypt reported that Tom Lee’s Bitmine purchased approximately $47 million worth of ETH again last week. Its holdings reached 4.9% of Ethereum’s supply. Of that, 84% has already been staked. Bitmine estimates it can generate about $358 million in annual staking rewards.
On-chain analyst Yu Yan calculated that Bitmine bought 17,362 ETH last week and currently holds about 6 million ETH.
In addition, listed company Strive also bought 1,107 bitcoins last week, bringing the combined total with Strategy to about 2,773 bitcoins.
Treasury companies remain steady buyers. Earlier this week, Bitcoin briefly dipped below $83,000, and market sentiment was weighed down by the situation between Iran and the U.S. and expectations of rate hikes, but treasury-company buying did not stop. For the market, the weekly, fixed purchases by Strategy and Bitmine are among the few steady spot-demand sources today. Moreover, Strategy’s model of raising capital by issuing common stock to buy bitcoin keeps ongoing attention on the correlation between MSTR’s share price and the bitcoin price.
This article first appeared in 1,665 bitcoins—Strategy bought another 1,665 bitcoins, bringing its holdings to 847,666—an all-time high; Bitmine holds ETH equal to 4.9% of supply.
