Strategy Expands Bitcoin Holdings to 848,000 Coins with $28.7M Purchase
Strategy purchased 334 additional Bitcoins for $28.7 million, bringing its total holdings to 848,000 coins with an estimated paper profit of $9 billion.
Strategy, the company most closely associated with Michael Saylor's Bitcoin acquisitions, continues to expand its holdings. The firm purchased an additional 334 Bitcoins for approximately $28.7 million, at an average price of $85,838.80 per coin, between September 28 and October 4. Following this purchase, Strategy now holds 848,000 Bitcoin.
The current value of the holding is estimated at approximately $73 billion, while the company has paid a total of around $64 billion over the years, including fees and expenses, at an average purchase price of $75,440.70 per Bitcoin. This means that on paper, Strategy holds a profit of about $9 billion. Its holdings equate to more than 4% of the total maximum Bitcoin supply, which stands at 21 million coins.
Strategy funded the acquisition through the sale of company stock and from its cash reserves. Last week, the company sold 92,894 MSTR shares for approximately $15.7 million, with the remainder of the purchase financed from cash reserves. As of October 4, the company had approximately $18.8 billion worth of shares remaining available for sale under the program.
The purchase comes shortly after Saylor published the familiar chart of Strategy's Bitcoin purchases on the X platform, alongside the English caption "More orange than ever". In the past, similar posts preceded official announcements of new purchases. Strategy thus continues to cement its position as the largest public company in terms of Bitcoin holdings, as roughly 196 public companies worldwide have already adopted some model of holding Bitcoin on their balance sheets.
