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, 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 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 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.

shared the updated figures on Xhttps://x.com/saylor/status/2104542254857633997?s=20

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

COINOTAG’s proprietary 42-indicator composite S/R scoring engine frames the tape around the filing: spot trades at $83,552, down 1.74% over 24 hours, with the nearest ceiling — the $84,022 resistance — rated 81/100 (STRONG) on the confluence of Fibo 0.114 and R1, reinforced by a bearish engulfing print and ATR Upper. First support at $81,717 scores 77/100 (STRONG), sourced from EMA 20, BB Middle, SMA 20 and ATR Lower. Derivatives positioning is mildly constructive: funding at 0.0048%, open interest of $15.9 billion and a long/short account ratio of 1.44. With the Fear & Greed Index at 74 (Greed), RSI at 60.95 and a bullish MACD inside an uptrend, the bullish case holds while $81,717 stands; a decisive break there would invalidate the setup and open the $77,075 support (69/100).