Strategy, the company formerly known as MicroStrategy, purchased 1,665 Bitcoin for $142.7 million last week — its second consecutive week of buying — and separately repurchased approximately $152 million of its STRC preferred stock, according to an official announcement. The developments, reported by The Market Periodical, came as MSTR shares reclaimed their 200-day simple moving average for the first time in nearly a year. Taken together, the two announcements touch every layer of the company's bitcoin-focused capital structure — the common equity sold to fund purchases, the Bitcoin treasury itself, and the preferred stock now being repurchased.

Second Straight Week of Bitcoin Purchases

Michael Saylor's MicroStrategy (NASDAQ: MSTR) bought the 1,665 BTC during the period of Sept. 21 to Sept. 27 at an average price of $85,681 per coin. The purchase was funded in part by the sale of 1.47 million MSTR shares, which generated $246.2 million in net proceeds — underscoring the equity-funded approach behind the company's bitcoin accumulation.

With the latest acquisition, Strategy's Bitcoin holdings increased to 847,666 BTC, acquired for a total of $63.95 billion at an average price of $75,437 per Bitcoin. That hoard makes Strategy the largest corporate holder of Bitcoin, with a blended average cost roughly $10,000 below last week's $85,681 purchase price. The company's BTC per share metric — a measure of how many coins stand behind each share — is on the rise, while its mNAV, the multiple of its Bitcoin portfolio's value at which the equity trades, remained around 1.2x last week.

Market expert Mark Harvey stated that Strategy has now repurchased more Bitcoin than it sold earlier this quarter, extending the firm's streak of consecutive quarters of Bitcoin holdings growth to 24 — an unbroken accumulation run now spanning six full years.

MSTR Stock Crosses 200-Day SMA

Despite MicroStrategy selling nearly 1.5 million shares of MSTR, the stock price continues to hold firm around $160, showing a 0.5% uptick to $159 as investors eye further upside. The stock has reclaimed its 200-day simple moving average for the first time in nearly a year, according to analyst Venu. The 200-day SMA is among the most widely followed long-term trend gauges in technical analysis, which is why a move back above it after so long below carries weight with chart-focused investors.

Venu added that with the Bitcoin price showing strength around $84,000, it could benefit MicroStrategy (MSTR) going ahead.

Analyst Daisy pointed out that the MSTR stock price has broken its downtrend for the first time over the past year. The bounce back comes following a bottom near the stock's 2021 high, a level the analyst described as historical bottoming zone for the company. Daisy also pointed to a MACD golden cross coinciding with the breakout, saying Strategy could present a significant opportunity if Bitcoin continues to perform, while noting that the stock's previous breakout attempts had failed twice. Given that record, whether the stock holds its reclaimed ground above the 200-day line is the detail chart watchers are most likely to track next.

STRC Share Price Nears $100 Peg

Following another $152 million in STRC share repurchases, the stock price has moved closer to its $100 peg. At press time, STRC shares were up 0.46% at $99. The approach to par is notable because the June slump below $75 had raised liquidation concerns for holders of the 12%-yielding preferred.

Back in June this year, the STRC stock price had collapsed below $75, raising liquidation concerns. That was exactly when Strategy started its aggressive acquisition of STRC shares, which offer a 12% annual dividend to shareholders. Although it came at the cost of dilutingSTR holdings, the experiment has proved a win-win for the company and its investors. Since June, the MSTR stock price is also up by nearly 100%. Sustaining the price near the $100 peg is the next marker for that experiment.

This article is for informational purposes only and does not constitute financial or investment advice. Technical targets remain conditional.