Bitcoin Magazine
Strategy (MSTR) Adds 811 Bitcoin, Strive (ASST) Follows Suit With 124 as Both Keep Stacking
Strategy bought another 811 bitcoin last week. The Saylor-led firm spent about $65.5 million at an average of $80,846 per coin between October 26 and November 1, according to its 8-K filing on Monday. That brings total holdings to 849,327 BTC, bought for roughly $64.1 billion at an average of $75,451.
The money didn’t come from new preferred stock this time. Strategy sold about 1.18 million shares of MSTR common stock for roughly $164 million, sent $65.5 million into bitcoin, and parked the remaining $98.5 million in USD cash. It also spent around $208 million buying back about 2.1 million shares of its STRC preferred.
Strategy spent much of the year leaning on preferred issuance to fund purchases, and the company is now using the buyback to tidy up its preferred stack while still adding coins.
Saylor teased the purchase Sunday with his usual tracker chart and a line that made the rounds on X: “We found room for even more orange.”
The buy landed a few days after Strategy reported its third-quarter results on Thursday. 9 billion operating gain tied to the bitcoin price rising during the quarter. That gain is a paper one under fair-value accounting, not cash. Saylor called it the start of the next bitcoin bull market and pointed to bitcoin trading about 21% above its 200-week moving average. The same release said CFO Andrew Kang will step down November 5, with COO Reza Virasteh taking over the role in January.
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