Microstrategy acquired 1,665 bitcoin between Sept. 21 and Sept. 27, expanding its total holdings to 847,666 BTC. The company purchased these coins at an average price of $85,681, including fees and expenses, according to its Sept. 28 Form 8-K filing with the SEC.
This latest acquisition pushed the company's total bitcoin accumulation to approximately $63.95 billion, with an average cost basis of $75,437 per bitcoin. Between Sept. 14 and Sept. 20, the firm acquired 950 BTC for about $75.7 million, at an average price of $79,670.
Microstrategy financed the purchases by selling 1,469,165 shares of MSTR common stock, generating $246.2 million in net proceeds. Of this amount, $142.7 million was allocated to bitcoin purchases.
Simultaneously, the company repurchased 1,534,530 shares of its variable-rate preferred stock, STRC, for $151.7 million during the period. It deployed $103.5 million from common stock sale proceeds and supplemented with $48.1 million in existing cash. The company still has $723.5 million available under its preferred securities repurchase program.
Executive Chairman Michael Saylor disclosed on Sept. 27 that the company holds 847,666 BTC and $6.02 billion in USD assets. The SEC filing details $5.02 billion reserved for preferred dividends and debt interest, with an additional $1 billion in cash for broader treasury purposes.
Microstrategy spent $22.1 million from its reserve on preferred dividends during the week. STRC's BTC Credit tightened to 49 basis points, a 1 basis point reduction, based on assumptions of 10 percent Bitcoin annual recurring revenue, 40 percent Bitcoin volatility, and a Bitcoin price of $84,006.
Following the announcement, bitcoin traded at $83,111 per unit.
