Key Highlights
- Strategy bought 8,178 BTC for $835.6 million, paying an average of $102,171 each.
- The company now holds 649,870 BTC with a total cost of $48.37 billion.
- The buy was funded through preferred stock sales, including a major $715 million euro-based offering.
Strategy, a bitcoin treasury firm led by Michael Saylor, increased its bitcoin position last week by acquiring 8,178 BTC worth $835.6 million. According to the filing, the purchase took place between November 10 and November 16 through a mix of preferred stock sales and earlier capital programs.
The firm has continued to follow its long-term plan to collect bitcoin even when the market is trading near $100,000.
$835 million Bitcoin purchase amid market dip
According to the filing, Strategy paid an average price of $102,171 per bitcoin for the new purchase. The company now has total holdings of 649,870 BTC with a cost basis of $48.37 billion and an average price of $74,433.
The company said the purchase was funded using proceeds from preferred offerings across several classes, including STRF, STRC, STRK, and STRE, along with earlier capital raised this month. STRE, the company’s latest euro-denominated preferred stock, contributed a major share after raising roughly $715 million from European investors, while STRC added another $131.4 million.
Michael Saylor confirmed the updated numbers in an X post, stating, “Strategy has acquired 8,178 BTC for ~$835.6 million at ~$102,171 per bitcoin,” adding that the company continues to follow its planned treasury path.
Clearing up selling rumors
The purchase came shortly after Strategy addressed online rumors claiming it had sold a large amount of bitcoin. The rumor started when several influencers shared posts about large BTC movements linked to Strategy’s wallets. Some users claimed the company sold $1 billion or even $3 billion in BTC.
Others said the company had removed more than 40,000 BTC from its wallets. However, analysts later explained that the wallet activity came from normal storage changes, not real selling. Institutions often shift coins between custodians or update their storage systems, and these actions can appear like sales on public dashboards even when no bitcoin leaves company control.
Saylor also addressed the speculation in an X post, stating, “There is no truth to this rumor. We are buying.”
Strategy’s long-term plan
The recent filing also highlighted Strategy’s long-term “42/42” plan, which seeks to raise $84 billion for bitcoin purchases by 2027 through debt, equity, and preferred stock structures.
Analysts at Bernstein said the company maintains a conservative capital position with roughly $8 billion in debt against its multibillion-dollar bitcoin reserve, and noted that no forced selling indicators appear based on the latest disclosures.
Also Read: Bitcoin Plunges to $93K as Liquidations Trigger Fear Index Crash
