Strategy Inc.’s MSTR stock averaged about 22.4 million shares traded daily over the three months through Nov. 3, while the company continued selling shares to fund Bitcoin (BTC) purchases and build cash reserves.
Equibles displayed a three-month daily average of 22.35 million shares as of Nov. 3, which rounds to 22.4 million. Yahoo Finance recorded 11.4 million MSTR shares traded that day, compared with about 7 million Boeing shares.
The Nov. 3 count was far below the 54.7 million MSTR shares Yahoo Finance recorded on Sept. 18. That session’s volume was more than four times the Nov. 3 figure. Share counts alone do not show which stock had greater dollar turnover or which company had a higher market value.
Strategy’s third-quarter release said its MSTR sales through an at-the-market program brought in $5.4077 billion after expenses during the quarter ended Sept. 30. That sum measures Strategy’s quarterly sale proceeds; the daily figures measure shares traded.
The company’s Nov. 2 filing put proceeds from MSTR sales during Oct. 26–Nov. 1 at $164 million. Strategy allocated $65.5 million of that amount to Bitcoin purchases and $98.5 million to cash. It reported holding 849,327 BTC as of Nov. 1.
In an earlier October transaction, Strategy sold 140,872 common shares for $22 million and combined the proceeds with $100,000 in cash to buy $22.1 million in Bitcoin. The purchase added coins, while the financing increased its common share count.
MSTR investors own company equity rather than a redeemable quantity of Bitcoin. Debt and preferred stock rank ahead of common shares in claims on Strategy, while further share sales can change the common share count. The reported coin balance alone therefore does not specify each share’s Bitcoin exposure, as earlier EconoTimes coverage of Strategy’s capital structure explained.
