Strategy Buys 1,665 Bitcoin (BTC), Lifting Holdings to 847,666

Strategy Adds 1,665 BTC in Second Weekly Buy

Strategy, the largest corporate holder of Bitcoin (BTC), disclosed on Sept. 28 a fresh purchase of 1,665 Bitcoin (BTC) executed between Sept. 21 and Sept. 27 at an average price of $85,681 per coin, including fees and expenses. The 8-K filing lifts the company’s aggregate position to 847,666 BTC, accumulated for roughly $63.95 billion at an average cost of $75,437 per coin. At prevailing market prices the stockpile is worth well above $70 billion, leaving the company sitting on a multibillion-dollar unrealized gain and extending the corporate Strategic Bitcoin Reserve playbook it pioneered. The buy is also the second consecutive weekly purchase, confirming that executive chairman Michael Saylor’s accumulation machine has fully restarted after its three-week summer pause. No other entity comes close to this footprint: Strategy remains by far the largest corporate whale in the asset class.

Funding the Buy Through MSTR Stock

The purchase was financed the way Strategy has refined across multiple cycles: through its at-the-market equity program. The filing shows the company sold 1,469,165 MSTR common shares during the week, netting $246.2 million. Of that, $142.7 million went to the Bitcoin (BTC) purchase while $103.5 million was directed at buybacks of STRC, the company’s floating-rate preferred stock. In total, Strategy repurchased 1,534,530 STRC shares for $151.7 million, topping up the equity proceeds with $48.1 million of existing cash. The dual-track approach — issuing common equity to accumulate bitcoin while simultaneously retiring preferred shares — keeps the capital structure aligned with the underlying asset. Each retired STRC share also strips a recurring coupon from the income statement, and the filing states $723.5 million remains available under the preferred-stock repurchase program, giving management room to keep compressing preferred obligations in the weeks ahead.

$6.02B Cash Buffer Behind the Coupons

Beyond the purchase itself, the disclosure details the cash engine that services Strategy’s preferred dividends. As of Sept. 27, the company held $6.02 billion in USD assets, split between a $5.02 billion reserve earmarked for preferred dividends and debt interest and roughly $1 billion of general-purpose cash, with a stated dollar duration of 3.8 years. This week alone, $22.1 million was drawn from reserves for preferred dividend payments. Michael Saylor shared the updated figures on X, noting that the STRC Bitcoin (BTC) credit spread has narrowed to 49 basis points, calculated on assumptions of a 10% bitcoin ARR and 40% bitcoin volatility. The buffer matters because preferred coupons are a fixed claim against the balance sheet; a deep drawdown in BTC would eventually force a choice between selling coins and depleting cash, and with nearly $1 billion of unencumbered liquidity that trade-off remains distant.

@saylor · X post

Shared the updated figures on X.

View on X

Accumulation Resumes After Summer Pause

The latest 1,665-coin buy follows a 950 BTC acquisition covering Sept. 14–20, which cost approximately $75.7 million at an average of $79,670 per coin. That purchase ended a three-week buying hiatus during the summer — a stretch in which Strategy in some transactions sold bitcoin below $65,000, well under the levels it is paying today. The stepped-up cadence signals conviction despite the higher basis. Attention is also on STRC itself: the preferred trades near $98.50, having reclaimed most of the losses from its summer slide toward $75. The strategy has echoes across the corporate landscape, too — Capital B recently added to its treasury through incremental Bitcoin purchases below its cost basis, lifting holdings to 3,538 — a sign that Strategy’s HODL-first accumulation model has become the template public companies now follow. Readers tracking the market in real time can follow live spot and futures prices on MEXC.

$81,700 Support Guards the Uptrend

The two consecutive weekly buys have pushed Strategy's holdings back above the level it reported before its summer sales began — 847,666 BTC versus the 847,363 BTC disclosed as of June 21. The company had sold a combined 6,916 BTC between June 29 and Aug. 9, using proceeds to fund preferred dividends, refill its dividend reserve and repurchase STRC. Last week also marked the first time Strategy tapped its at-the-market program since the week of Aug. 24–30, when it raised $602.8 million and directed $369.7 million toward 4,603 BTC. STRC buybacks continue to climb toward par, executed at roughly $98.86 per share versus $98.24 the prior week and $97.37 the week before that, while management has recommended keeping the 12% dividend until STRC trades sustainably near $100. Separately, shareholders will vote on daily dividends for STRC and three other preferreds at an Oct. 28 special meeting.

The filing also clarifies the financing machinery in fresh detail. Strategy reported $18.84 billion of remaining issuance capacity under its MSTR at-the-market program as of Sept. 27, and sold no STRF, STRC, STRK or STRD preferred shares during the week — unlike the prior period, when it used existing cash instead of common-stock sales. Management doubled the digital credit securities repurchase authorization to $2 billion earlier in September after a $176.3 million STRC buyback week that included no bitcoin purchase, and a separate $1 billion MSTR common-stock repurchase program remains available. The company said in July it intends to keep repurchasing STRC while the preferred trades below its $100 stated amount, subject to market conditions and liquidity.

(as of 01:13 UTC) COINOTAG’s proprietary 42-indicator composite S/R scoring engine frames the tape: spot trades at $83,070.00, down 1.33% over 24 hours, with the nearest ceiling — the $84,021.79 resistance — rated 76/100 (STRONG) on the confluence of Fibo 0.114, Ichimoku Tenkan, Pivot Point and a MACD cross. First support at $82,375.67 scores 84/100 (STRONG), sourced from ATR Lower, S2, Ichimoku Kijun and Fibo 0.214, with a deeper floor at $77,074.93 (70/100) built on Fibo 0.382, a flip of R→S, Supertrend and HVN. Derivatives positioning is constructive: funding at 0.0014%, open interest of $15.17 billion and a long/short account ratio of 1.48 (59.6% long). With the Fear & Greed Index at 73 (Greed), RSI at 60.32 and a bearish MACD signal inside an uptrend, the bullish case holds while $82,375.67 stands; a decisive break there would put the $77,074.93 support in play.