Corporate Bitcoin Buying Spree Continues as Prices Dip Below $80K

Strategy returned to the market after a brief hiatus, securing 811 BTC for $65.5 million between October 26 and November 1. The firm financed this acquisition by selling 1,178,552 shares of its common stock, bringing its total holdings to 849,327 BTC. While the company’s average acquisition price for this specific batch sat at $80,846, its cumulative portfolio average remains significantly lower at $75,451 per coin. Alongside these digital asset purchases, Strategy aggressively managed its capital structure by repurchasing $208.2 million in preferred STRC shares to reduce future dividend obligations.

Strive followed a similar path, though on a more modest scale, adding 124 BTC to its treasury for roughly $10 million. This purchase raised the company's total holdings to 43,124 BTC. Unlike Strategy’s equity-funded approach, Strive utilized existing cash reserves for the transaction. With Bitcoin trading near $77,700 as of November 2, both companies are currently holding assets at an immediate unrealized premium relative to the spot market. Despite the price volatility following recent security concerns in the broader ecosystem, both firms remain committed to their treasury-heavy strategies, balancing new Bitcoin inflows with the ongoing maintenance of their preferred stock obligations.