Holdings reach 847,666 BTC after share sale funds purchase

Strategy purchased 1,665 Bitcoin for $142.7 million between September 21 and 27, bringing its total holdings to 847,666 BTC, according to an official announcement on September 28. The purchase represents a new record for the company’s Bitcoin treasury.

The Bitcoin acquisition was funded by $246.2 million in net proceeds from the sale of 1.47 million MSTR common shares via an at-the-market offering during the same week. Strategy paid an average of $85,681 per Bitcoin in the latest purchase, compared to an average of $75,437 across its entire 847,666 BTC position.

“Strategy has acquired 1,665 $BTC and repurchased $152M of $STRC. As of 9/27/26, we hold 847,666 BTC and $6.02B of USD Assets,” Strategy said in its announcement.

The new record surpasses Strategy’s previous high of 847,363 BTC set on June 22. The company had sold 6,948 BTC between May and August before resuming purchases in August.

Capital allocation framework

Strategy’s capital structure includes multiple funding mechanisms. The company maintains a $6.02 billion USD asset base, comprised of a $5.02 billion USD Reserve and $1 billion USD Cash. The USD Reserve is dedicated to dividends on preferred stock and interest on debt. The USD Cash allocation, established last month, is designated for Bitcoin purchases and other capital-management activities.

During the week of the Bitcoin purchase, Strategy also repurchased $151.7 million of preferred stock (STRC), buying 1.53 million shares. The repurchase used $48.1 million from USD Cash and $22.1 million from the USD Reserve for preferred-stock dividends. Strategy has $723.5 million remaining under its repurchase authorization.

Strategy operates under a capital framework allowing it to sell up to $1.25 billion worth of Bitcoin to fund its USD Reserve, preferred-stock dividends, interest expenses, and repurchases of MSTR or preferred securities. The company also proposed daily dividend accrual on preferred stock (STRF, STRC, SREK, STRD) to dampen volatility.

Strategy’s total acquisition cost for its 847,666 BTC position stands at $63.95 billion.