Michael Saylor’s Strategy has resumed its Bitcoin purchases after a one-week pause. The company bought another 810 BTC, bringing its total holdings to 849,327 BTC. This marks the highest level the company has reached to date.
Strategy spent approximately $65.5 million on the latest purchase. The average purchase price came in just under $81,000. During the same period, the company also repurchased $208.2 million of STRC preferred shares.
Saylor announced the purchase on X
Saylor announced the purchase on Monday via his X account. According to the post, the company held 849,327 BTC and $4.9 billion in USD assets as of November 1. Saylor’s message put the purchase at 811 BTC. However, compared with the 848,517 BTC the company reported the previous week, the net increase amounts to 810 BTC.
Ahead of the purchase, Saylor shared his customary orange chart on Sunday. The note he added to the chart, “We found room for even more orange,” was read by the market as a signal of a new purchase.
Funding came from MSTR sales
The company raised approximately $164 million by selling 1.18 million MSTR shares. Close to $100 million of that amount was allocated to its USD reserve. Strategy’s USD reserve currently stands at around $4.8 billion. The company also holds $132.7 million in cash.
Last week, the focus was on STRC
Strategy did not buy any Bitcoin the previous week. That week, the company spent $204.9 million to repurchase 2.07 million STRC shares. These purchases brought the two-week buyback total to approximately $398 million.
The STRC price also recovered during this period. The stock is currently trading less than 1% below its $100 par value. In October, Strategy also raised the limit of its digital credit securities repurchase program from $2 billion to $3 billion.
Record profit and CFO departure
Strategy reported net income of $19.5 billion for the third quarter. Most of the profit came from accounting gains on its Bitcoin holdings. Meanwhile, the company’s long-serving CFO, Andrew Kang, announced that he will step down on November 5.
With the latest purchase, Strategy now holds more than 4% of the total Bitcoin supply. Bitcoin was trading at around $77,800. That price was roughly 3% above the company’s most recently disclosed average cost.
