Strategy bought 950 BTC for $75.7 million in the week to September 20, paying an average of $79,670 per coin inclusive of fees, according to an 8-K filed Monday — the form public companies use to disclose material events. The purchase, also detailed in a company press release, lifts Michael Saylor's Bitcoin treasury firm to 846,000 BTC, acquired for a cumulative $63.80 billion at an average of $75,416 per coin.

The latest buy puts Strategy within 1,363 coins of the largest stack it has ever reported. The company held 847,363 BTC on June 22, per BitcoinTreasuries, and is now 0.2% short of that mark. At this week's pace, a fortnight of buying would clear the record. The June peak predates the summer sales, so clearing it would restore the stack to its largest reported size.

"Strategy has acquired 950 $BTC and repurchased $174M of $STRC. As of 9/20/26, we hold 846,000 BTC and $6.09B of USD Assets. $MSTR "
— Michael Saylor ([@saylorhttps://x.com/saylor/status/2102005566973301018?ref_src=twsrc%5Etfw)) via X, September 21, 2026

Getting back there has taken two months. Summer sales cut the holdings to 840,447 BTC by August 10, their lowest since May, and the company has added 5,553 coins since.

Strategy's latest average purchase price of $79,670 is $15,408 above the $64,262 it took for the 1,690 BTC it sold in the week to August 9, and roughly $4,250 above the firm's own blended cost basis — the $75,416 average across its cumulative holdings.

The Bitcoin buys were less than half of what Strategy spent on its own securities. The company put $174.0 million repurchasing 1,771,238 STRC preferred shares — shrinking the outstanding count of a preferred whose dividends are backed by the USD Reserve — up from the $139.3 million it spent the week before, and bought back none of its STRF, STRK, STRD or MSTR stock.

Both outlays came from USD Cash, the pool management established last month for Bitcoin purchases, buybacks and general corporate purposes. It fell to $1.05 billion as of September 20 from $1.30 billion a week earlier — a draw of $249.7 million that matches the two purchases almost to the dollar. Strategy sold no shares under its at-the-market offering program, which lets issuers sell registered shares into the market over time, during the period, having raised $333.7 million that way in a single week in August.

A further $57.4 million came out of the USD Reserve, which backs preferred dividends and interest payments, leaving that pool at $5.04 billion. Some $875.1 million remains under the digital credit securities repurchase program, while a separate $1 billion authorization covering MSTR common stock is still untouched.

The buying follows a historic shift: Strategy broke a long-held refusal to sell in May and went on to dispose of 6,948 BTC for around $432.5 million over the summer, under a June capital framework permitting up to $1.25 billion of sales. Around $820 million of that capacity remains unused, and the weekly filing cadence means the next report will show whether the record fell and whether any of that capacity was tapped.