Proceeds from a Class A share sale financed Strategy’s return to Bitcoin (BTC) buying, with the company reporting an 811-coin purchase worth $65.5 million through Nov. 1. The Nov. 2 filing with the Securities and Exchange Commission reported the purchase.
Fees and expenses were included in Strategy’s $80,846 average cost per Bitcoin for the latest buy. Its balance stood at 849,327 BTC on Nov. 1, while the total amount paid to build its holdings was $64.08 billion, or an average of $75,451 per coin. That cumulative amount is acquisition cost, not a market valuation.
During the period, Strategy sold 1,178,552 Class A shares through its at-the-market program, bringing in $164 million net. It allocated $65.5 million to the Bitcoin purchase and $98.5 million to USD Cash.
Strategy also spent $208.2 million in USD Cash to repurchase 2,092,035 STRC preferred shares. As of Nov. 1, the filing listed USD Cash of $132.7 million and a separate USD Reserve of $4.79 billion.
For Oct. 19-25, Strategy disclosed no Bitcoin transactions and no at-the-market share sales. It spent $204.9 million repurchasing STRC in that period, compared with $208.2 million in the latest week. EconoTimes previously covered the earlier pause in Bitcoin buying and $204.9 million STRC repurchase.
Before that pause, Strategy filings had reported purchases of 334 BTC from Oct. 1-4, 250 BTC from Oct. 5-11 and 267 BTC from Oct. 12-18.
In an Oct. 13 Bloomberg Television interview, Strategy founder and Executive Chairman Michael Saylor said, ‘It should definitely move back into the six figures beyond $100,000,’ referring to Bitcoin. Saylor gave no timetable for that price level.
In Strategy’s Oct. 29 third-quarter results release, Saylor said, “We’re at the beginning of the next bitcoin bull market.” The release attributed its outlook to banks embracing Bitcoin, growing dominance among digital assets and returning institutional demand. The Nov. 2 filing gave no date for another purchase.
