Key points

  • Strategy bought 950 BTC for $75.7 million between September 14 and September 20 at an average price of $79,670 per bitcoin.
  • The company also repurchased 1,771,238 STRC preferred shares for $174 million and made no at-the-market share sales during the period.
  • Strategy ended September 20 with 846,000 BTC, $5.04 billion in its USD Reserve and $1.05 billion in deployable USD Cash.

Strategy has resumed adding Bitcoin to its corporate treasury after a pause, buying 950 BTC for $75.7 million during the week ended September 20. The company disclosed the purchases in a September 21 filing with the U.S. Securities and Exchange Commission, saying it paid an average of $79,670 per bitcoin including fees and expenses. The same filing shows Strategy spent substantially more during the week repurchasing its STRC preferred shares than it did acquiring Bitcoin.

Bitcoin holdings rise to 846,000 BTC

The 950 BTC purchase lifted Strategy's total holdings to 846,000 BTC as of September 20. The company said those coins were acquired for an aggregate purchase price of $63.80 billion, equal to an average cost of $75,416 per bitcoin including fees and expenses. Independent reports from The Block and Decrypt confirmed the figures from the filing. The acquisition was funded from Strategy's USD Cash pool rather than through new at-the-market equity issuance.

Related reporting: Strategy buys back $139.3 million of STRC as Bitcoin holdings stay flat

STRC buybacks were the larger cash use

Strategy also repurchased 1,771,238 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, or STRC, for $174 million between September 14 and September 20. No STRF, STRK, STRD or MSTR common shares were repurchased during the same period. The company reported $875.1 million of remaining authorization under its preferred-stock repurchase program and $1 billion remaining under the separate MSTR common-stock repurchase program.

No ATM share sales during the week

The filing says Strategy sold no shares under its at-the-market offering program during the reporting period. That detail matters because the company has frequently used capital-market issuance as part of its Bitcoin acquisition strategy. This week's Bitcoin purchase and STRC repurchases instead came from existing USD Cash. The combined spending on those two uses was $249.7 million, while Strategy separately used $57.4 million from its USD Reserve for preferred dividends and interest on outstanding debt.

Cash balances remain substantial but lower

As of September 20, Strategy reported a USD Reserve balance of $5.04 billion and USD Cash of $1.05 billion. The company describes the USD Reserve as funding for preferred-stock dividends and debt interest, while USD Cash is available for broader Bitcoin Treasury Company purposes, including Bitcoin purchases and capital-management activity. Decrypt reported that the deployable cash balance declined from the prior week as Strategy funded both the Bitcoin acquisition and STRC repurchases.

What the filing shows about capital allocation

The update highlights Strategy's current balance between accumulating Bitcoin and managing its preferred-stock capital structure. The company returned to Bitcoin buying while continuing a sizable STRC repurchase program, and it did so without issuing shares through its ATM program during the week. The filing does not commit Strategy to a fixed pace of future Bitcoin purchases or preferred-stock buybacks, so the next reporting period will show whether this cash-funded approach continues or capital-market issuance returns.

Sources

AI-generated editorial image; not a photograph of the reported event. Prepared with AI assistance and source verification.