Strategy adds 1,036 Bitcoin and buys back $188.3M in STRC

A Nov. 9 filing put the purchase price at an average $79,012 per coin, including fees and expenses. Strategy’s total Bitcoin holdings have cost $64.16 billion, or an average of $75,456 per BTC. At about $74,800 after the announcement, the holdings were worth approximately $63.6 billion.

Executive Chairman Michael Saylor had hinted at another purchase on Nov. 8, posting the words “Connecting the dots” with Strategy’s familiar Bitcoin-buying chart. The previous reporting week, the company bought 811 BTC for $65.5 million. Saylor confirmed the latest acquisition on Monday, also reporting $4.9 billion in dollar assets.

Strategy funded both the Bitcoin purchase and the STRC buyback by selling 2,051,348 MSTR shares through its at-the-market offering program, raising about $283.8 million net. It allocated $81.9 million to Bitcoin, $188.3 million to repurchasing 1,887,464 STRC shares and the remaining $13.6 million to general dollar cash. The company did not sell new preferred shares or buy back shares in its other preferred-stock classes.

The $4.9 billion in dollar assets comprised a $4.77 billion reserve and $146.2 million in general cash. The reserve supports preferred dividends and debt interest; Strategy used $21.1 million from it to pay preferred dividends during the week. As of Nov. 8, $560.3 million remained available under its STRC repurchase authorization, while its separate $1 billion common-stock buyback authorization was unused. The company also had $18.34 billion available through its MSTR share offering program.

Strive also reported a Bitcoin purchase on Monday. CEO Matt Cole said the company acquired 29 BTC for about $2.2 million, at an average $75,721 per coin, bringing its reported holdings to 43,153 BTC. Cole did not provide details of the financing for the purchase.