Bitcoin juggernaut Strategy has expanded its cryptocurrency holdings as it returns to a regular weekly accumulation schedule.
A filing submitted on Monday reveals that the Nasdaq-listed bitcoin treasury acquired 250 bitcoins for $21.5 million between October 5 and October 11.
The filing additionally notes that the company expended $192.4 million to repurchase its STRC preferred stock.
Following this latest purchase, Strategy’s total holdings stand at 848,250 bitcoins, valued at $70.2 billion based on current prices. On Monday, MSTR stock traded nearly 2% higher.
Over the past four weeks, the firm—previously known as MicroStrategy—has actively purchased bitcoin, marking a shift from previous months characterized by sporadic acquisitions or extended pauses designed to strengthen its cash reserves.
According to Monday’s disclosure, last week’s bitcoin purchase was funded using net proceeds generated from MSTR stock sales alongside its USD Cash buffer. Strategy maintains two separate cash reserves: the “USD Reserve,” dedicated to covering preferred stock dividends and interest on existing debt, and the “USD Cash,” which is reserved for bitcoin purchases.
Strategy initially entered the cryptocurrency market in 2020 as a safeguard for shareholders against inflation. In the time since, the firm has aggressively accumulated the digital asset and transformed into a dedicated bitcoin treasury.
Today, investors can purchase company shares to gain amplified exposure to bitcoin or earn yields through its digital credit offerings.
The enterprise currently centers its product focus on generating investor yield through its STRF, STRC, STRK, and STRD preferred shares.
Amid a decline in the price of bitcoin, the company’s Nasdaq-listed stock has dropped by more than 50% over the past year.
Nevertheless, MSTR shares have climbed by nearly 1,000% since the company began purchasing bitcoin in August 2020.
How many bitcoins does Strategy currently hold?
Strategy holds 848,250 bitcoins valued at $70.2 billion.
How much did the recent bitcoin purchase cost?
Strategy spent $21.5 million to acquire 250 bitcoins.
What are Strategy’s two cash reserves used for?
The “USD Reserve” pays preferred stock dividends and debt interest, while “USD Cash” is used to purchase bitcoin.
When did Strategy start buying bitcoin?
Strategy began buying bitcoin in August 2020.
