Strategy has resumed its Bitcoin accumulation program with a purchase of 950 BTC, disclosed in a post on X, as the cryptocurrency briefly climbed above $85,000 during a broader market rebound supported by ETF demand, short covering and improving risk appetite.

The company acquired the Bitcoin between September 14 and September 20 for $75.7 million, paying an average of $79,670 per coin. The purchase lifted Strategy's total holdings to 846,000 BTC — the largest Bitcoin treasury held by any publicly listed company — acquired for approximately $63.8 billion at an average cost of $75,416 per Bitcoin.

The buy marks Strategy's first weekly Bitcoin addition since late August. The company had held 845,050 BTC earlier this month while directing cash toward repurchases of its STRC preferred stock.

Strategy Spends Another $174 Million on STRC

Alongside the Bitcoin purchase, Strategy repurchased approximately $174 million of its Variable Rate Series A Perpetual Stretch Preferred Stock during the latest reporting period, continuing a capital-management program that has run in parallel with its Bitcoin accumulation.

The company ended September 20 with approximately $5.04 billion in its USD Reserve and a further $1.05 billion in USD Cash. The reserve is maintained primarily to support preferred-stock dividends and interest obligations, while USD Cash can be deployed toward Bitcoin purchases and other treasury. The division of roles between the two balances gives readers a recurring marker in future disclosures: the pace of Bitcoin purchases on one side and preferred-stock support on the other.

At Bitcoin's intraday peak above $85,253 on Monday, Strategy's 846,000 BTC position was worth roughly $72 billion, placing the market value of the holdings more than $8 billion above their aggregate acquisition cost. That spread narrowed as Bitcoin later retreated from the session high.

Strategy shares also rallied with the crypto market, trading around $164 after gaining roughly 7% during Monday's session.

Bitcoin Breaks Above $85,000 as Market Rebound Broadens

Bitcoin reached $85,253 on September 21, its highest level in eight months, extending a recovery that has carried the asset from around $76,000 on September 16 to above $80,000.

Rather than a single catalyst, several forces have supported the advance. Crypto investment products had already recorded $1.3 billion in weekly inflows through the previous reporting period, while U.S. spot Bitcoin ETFs returned to positive daily flows after heavy redemptions earlier in September. Short covering added further momentum as Bitcoin broke through levels that had capped previous rallies.

Falling oil prices and a pullback in U.S. Treasury yields also improved broader risk appetite on Monday, helping equities and crypto assets move higher together. Ethereum climbed above $2,740 during the session, while Solana, XRP, BNB and several other large-cap tokens also advanced, underscoring that the move extended beyond Bitcoin.

Strategy's latest batch of 950 BTC was executed at an average of $79,670, leaving the purchase already above its acquisition price even if Bitcoin pulls back from Monday's $85,253 intraday high. For readers tracking whether the rebound's supporting factors persist, upcoming U.S. spot Bitcoin ETF flow reports and Strategy's next weekly disclosure are the most immediate data points to watch.

Source: Crypto Adventure