'Even more orange': Strategy buys 1,665 bitcoin for $143 million as total holdings reach 847,666 BTC

Bitcoin (BTC) treasury company Strategy (MSTR) acquired an additional 1,665 BTC for approximately $142.7 million at an average price of $85,681 per bitcoin between Sept. 21 and Sept. 27, according to an 8-K filing with the Securities and Exchange Commission.

Strategy now holds a total of 847,666 BTC — worth around $70.6 billion — bought at an average price of $75,437 per bitcoin for a total cost of around $64 billion, including fees and expenses, according to the company's co-founder and executive chairman, Michael Saylor.

For context, Strategy's holdings are equivalent to more than 4% of bitcoin's 21 million supply cap, and imply around $6.6 billion of paper gains at current prices.

The latest acquisitions were made using proceeds from at-the-market sales of its Class A common stock, MSTR. Last week, Strategy sold 1,469,165 MSTR shares for approximately $246.2 million. As of Sept. 27, $18.84 billion worth of MSTR shares remain available for issuance and sale under that program, according to the filing.

Strategy also repurchased 1,534,530 million STRC preferred shares last week for around $151.7 million. The latest acquisitions were made using $103.5 million in MSTR sales and $48.1 million of the company's USD Cash reserve. The firm also used $22.1 million of its USD Reserve to fund the payment of dividends on its preferred stock during the same period.

As of Sept. 27, the balances of its USD Reserve and USD Cash were $5.02 billion and $1 billion, respectively, the firm said.

'Even more orange'

Saylor posted another Strategy bitcoin acquisition tracker chart to X on Sunday with the caption "A little more orange." Similar posts have typically preceded bitcoin acquisition announcements the following day, though the company's strategy has varied in recent weeks, with its bitcoin holdings held steady of late.

Per Bitcoin Treasuries data, 195 public companies have adopted some form of bitcoin acquisition model. Tether-backed Twenty One, Metaplanet, MARA, and Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company make up the rest of the top 5, with 43,514 BTC, 43,000 BTC, 35,577 BTC, and 30,021 BTC, respectively.

On Friday, Strategy proposed moving its STRC, STRD, STRF, and STRK preferred stocks to daily dividends, subject to a shareholder vote on Oct. 28. STRC only moved from monthly to semi-monthly dividends in June, when shareholders approved an earlier change to its payment schedule.

The proposal does not change the dividend rates on the four securities or increase Strategy's total regular dividend obligations. STRC would be the first to switch, with an initial record date of Nov. 1 and payment the following day if shareholders approve the amendments. STRF, STRD, and STRK would follow in January.

Strategy's stock gained 16.1% last week, closing Friday at $158.61, according to The Block's MSTR price page, and is now up 2.6% year-to-date after a substantial recovery, though still 65% down over the past year. Bitcoin rose 3.6% during the same period.