Strategy Buys 950 Bitcoin as BTC Hits $84,500
Strategy resumed bitcoin purchases last week, adding 950 coins while shares gained 7% in pre-market trade.
Key points
- Strategy added 950 bitcoin last week, spending $75.7 million from its USD cash reserves.
- The company holds 846,000 bitcoin with a total cost basis of $63.81 billion and an average price of $74,417.
- Strategy shares rose 7% in pre-market trading as bitcoin climbed to $84,500 over the past 24 hours.
Strategy resumed bitcoin purchases last week, adding 950 coins to its balance sheet. This marks the first weekly acquisition by the firm since late August. The move coincides with a broader market rally that pushed the digital asset to $84,500.
The company funded these transactions using its USD cash reserve. Strategy deployed $75.7 million in cash specifically for the new bitcoin allocation. Meanwhile, the firm used $174 million in cash to repurchase its own STRC instruments.
Cash reserves remain substantial
A regulatory filing on Monday detailed the source of these funds. The company drew $57.4 million from its USD reserve to pay preferred stock dividends. These actions leave the total USD reserve standing at $5 billion.
The company also reported that its USD cash balance currently sits at $1 billion. This liquidity position supports ongoing operational needs and potential future acquisitions. The financial structure remains focused on holding digital assets as a core component.
Portfolio value reaches new levels
Executive Chairman Michael Saylor leads a strategy that now holds 846,000 bitcoin. The total cost basis for this massive position stands at $63.81 billion. The average acquisition price per coin is recorded at $74,417.
Market sentiment improved alongside the resumption of corporate buying. Bitcoin climbed 4.5 percent over the past 24 hours to reach the $84,500 level. Strategy shares rose 7 percent in pre-market trading on Monday morning.
Market reaction to buying news
Investors reacted positively to the confirmation of continued institutional demand. The 7 percent gain in Strategy stock outpaced the broader market movement. CoinDesk reported that the rally provided immediate support for the asset’s price.
The timing of these purchases aligns with a temporary stabilization in the market. Corporate accumulation often signals confidence in the asset’s long-term value proposition. This specific week saw a notable shift in buying activity after a pause.
