Strategi Buys 334 Bitcoin, Sells Some MSTR to Pay For It—Capitalism, But Make It Crypto 📊

Strategy, the Bitcoin treasury firm led by Michael Saylor, acquired 334 BTC between October 1 and October 4 for $28.7 million, according to an SEC filing. The purchase was executed at $85,838 per coin and brought the company's total reserves to 848,000 BTC, acquired at an average price of $75,440, totaling roughly $63.97 billion in cumulative cost basis. The latest acquisition follows Strategy's purchase of 1,665 BTC two weeks earlier, marking a return to buying after a multi-week pause during which the company trimmed some of its holdings.

To fund the transaction, Strategy sold $15.7 million worth of MSTR shares and used $13 million from its USD Cash pool. The firm has leaned on MSTR stock sales as much as its preferred funding instrument, the STRC preferred stock, continues to trade below its $100 par value. MSTR has climbed alongside Bitcoin and the broader crypto market over the past month, recently trading near its 2026 high above $160.

The company also continued its STRC repurchases last week, buying back just over 1.7 million shares. Strategy had paused Bitcoin accumulation earlier in the year as market conditions shifted, and the resumption of buys signals a return to its core treasury strategy. The firm's average cost basis remains well below current market levels, reinforcing the scale of unrealized appreciation on its holdings.