Strategy purchased 267 Bitcoin for $22.1 million last week and repurchased $193.1 million of its STRC preferred stock, the company announced Monday. The Bitcoin acquisitions occurred between October 12 and 18 at an average price of $82,900 per coin including fees.
The purchases bring Strategy’s total Bitcoin holdings to 848,517 BTC as of October 18, with a cumulative acquisition cost of $64.02 billion, or $75,446 per coin on average. Michael Saylor, Strategy’s co-founder, said the company “found room for more orange” in reference to Bitcoin’s color in charts and logos.
Strategy funded the Bitcoin purchase primarily through the sale of 140,872 shares of MSTR common stock, with $0.1 million drawn from cash reserves. The preferred stock repurchase reduced STRC shares outstanding by 1,938,780 shares.
Repurchase Program Expansion
Strategy’s board raised the authorized cap on its digital credit securities repurchase program to $3 billion, up from the previous $2 billion limit. After this week’s $193.1 million in preferred stock repurchases, $1.16 billion remains available under the expanded program.
The company maintains a separate $1 billion buyback authorization for MSTR common stock, which remains untouched.
Cash and Reserve Positions
As of October 18, Strategy held $5.3 billion in USD assets, comprising $4.83 billion in its USD Reserve and $447.3 million in USD Cash. The company deployed $45.5 million from its USD Reserve to fund dividends during the week.
These positions reflect ongoing treasury management as Strategy continues its dual strategy of accumulating Bitcoin and repurchasing its own securities.
MSCI Index Rule and Timeline
Strategy’s announcement comes as MSCI finalized a rule on October 15 that classifies “non-operating companies” (those whose balance sheets are dominated by a single asset) as ineligible for its Global Investable Market Indexes. The rule becomes effective November 30, with MSCI publishing the list of affected companies on November 11.
Removal from MSCI indexes would force index-tracking funds to sell affected shares. Saylor has previously characterized the rule as “discriminatory.”
