Strategy Adds 250 Bitcoin as Holdings Reach 848,250 BTC

Strategy, the Bitcoin-holding firm founded by Michael Saylor, purchased 250 BTC for $21.5 million last week, lifting its total holdings to 848,250 BTC, according to an announcement published on Strategy's website. That total keeps the company the largest corporate holder of Bitcoin.

The acquisition marks a second consecutive weekly decline in the pace of the company's purchases, with the latest 250 BTC amounting to roughly 0.03% of its total holdings. Strategy funded $21 million of the buy through sales of its common stock and covered the remaining $500,000 with existing cash between Monday and Sunday, the announcement said. Whether the slower pace extends into a third week should become clear with the company's next weekly update.

Founder and executive chairman Michael Saylor had signaled continued accumulation in a Sunday post, writing, "There's always room for more orange."

Strategy typically discloses its weekly Bitcoin purchases through filings with the US Securities and Exchange Commission, which was closed Monday for the Columbus Day holiday.

Alongside the Bitcoin purchase, the company continued repurchasing shares of its STRC preferred stock, spending $192.4 million during the week, up from $176.3 million the previous week — nearly nine times the $21.5 million it spent on Bitcoin the same week.

Strategy's Nasdaq-traded common stock, MSTR, was up less than 1% ahead of Monday's market open, according to Yahoo Finance. The STRC preferred stock was poised to open at $99.68 per share.

The company said it maintains a $4.88 billion US Reserve to support preferred stock dividends and debt interest payments. Its separate USD cash balance stood at $640.5 million as of Sunday.

Strategy's Bitcoin accumulation has slowed in recent months. Its holdings grew just 0.2% during the third quarter, as the company acquired 7,218 BTC while selling 5,553 BTC over the same period.