Strategy stock rises after resuming Bitcoin buys

Strategy resumed buying Bitcoin between Aug. 24 and Aug. 30, acquiring 4,603 BTC for roughly $369.7 million at an average price of $80,318 per coin, the company disclosed in an SEC 8-K filing. The stock rose as much as 1.72% in Monday trading after the disclosure.

The acquisition was funded by sales of Strategy’s Class A common stock through its at-the-market program. The company sold 4,531,421 MSTR shares for approximately $602.8 million during the reporting period. From those proceeds, Strategy repurchased 1,557,177 shares of its STRC preferred stock for $151.8 million, paid $50.7 million in STRC dividends and added about $30 million to its USD Cash account.

The latest buy increased Strategy’s Bitcoin holdings to 845,050 BTC. The company has spent about $63.73 billion to acquire its Bitcoin position, including fees and expenses, at an average cost of $75,412 per coin. At recent Bitcoin prices above $78,000, those holdings were worth roughly $66.1 billion. Strategy’s holdings equal more than 4% of Bitcoin’s 21 million maximum supply.

This was the company’s first reported purchase since June 22, when it acquired 520 BTC. In the intervening weeks Strategy reported several periods with no purchases or sales while it built a USD Reserve and launched a USD Cash account. The company has also used its BTC Monetization Program to sell Bitcoin; the program was later expanded to allow up to $5 billion in sales to fund reserves, dividends, interest payments and securities repurchases.

As of Aug. 30, Strategy reported $1.61 billion in its USD Cash account and a USD Reserve of $5.1 billion. The company also reported $19.09 billion of MSTR shares available for issuance and sale under its ATM program.

Executive Chairman and co-founder Michael Saylor posted on X over the weekend, writing “We’re back,” and later posted “paint the bears orange,” a phrase the company has used previously when announcing Bitcoin purchases.

Strategy’s stock had risen 6.3% the prior week, closing Friday at $127.31. Bitcoin’s price has climbed more than 25% over the past month.