Strategy Announces Weekly Bitcoin Purchase and $176 Million Buyback

In its weekly update, Strategy said it bought 334 Bitcoin for $28.7 million and repurchased $176.3 million worth of STRC shares in the same week, bringing its total Bitcoin reserve to 848,000 BTC.

According to the company statement reported by Wu Blockchain, the 334 BTC purchase was made between October 1 and 4 at an average price of $85,838.8 per Bitcoin. The new purchase was funded with $15.7 million in net proceeds from MSTR share sales and $13 million in cash.

How much Bitcoin does Strategy hold now?

The company’s reserve rose from 847,666 BTC on September 30 to 848,000 BTC as of October 4. The total purchase cost for its Bitcoin was approximately $63.97 billion, with an average cost of $75,440.7 per BTC; these figures include fees and expenses.

Share buyback exceeds Bitcoin purchase

Strategy repurchased approximately $176.3 million worth of STRC shares between September 28 and October 4. As a result, the share buyback amount disclosed in the weekly update was about six times the amount allocated to the new Bitcoin purchase.

The company also estimated its third-quarter gain on digital assets at $20.91 billion. The reported value of its Bitcoin holdings as of September 30 was $70.82 billion.