Saylor's Money Printer Goes "Brrr": 250 BTC Bought, $192M STRC Bought Back 📊

Strategy, the largest corporate Bitcoin treasury, acquired 250 BTC last week for $21.5 million at an average price of $86,194 per coin including fees, according to a Monday company release covering the period between October 5 and October 11. The firm now holds a record 848,250 BTC acquired for approximately $64 billion at an average cost of $75,444 per coin. The purchase was funded by roughly $21 million raised through the sale of about 125,000 shares of MSTR common stock via the company's at-the-market offering program, with the remaining $500,000 covered in cash. No preferred stock was sold during the week.

The company also repurchased 1,932,145 shares of its variable-rate Stretch (STRC) preferred stock for $192.4 million, leaving $354.8 million available under its preferred-stock buyback program. As of October 11, Strategy reported $4.88 billion in a U.S. dollar reserve set aside for preferred dividends and debt interest, alongside $640.5 million in cash earmarked for broader purposes including future Bitcoin acquisitions. The firm said it established the dedicated reserve with $1.44 billion and later created the separate USD cash pot after raising $2 billion through MSTR stock sales. Strategy has also proposed that its preferred stock dividends accrue 365 days a year and stated it could sell up to $1.25 billion of Bitcoin under its digital credit capital framework.

The week's moves followed Strategy's third-quarter gain of $21 billion and its prior-week acquisition of $29 million in Bitcoin alongside $176 million of STRC repurchases. CEO Phong Le defended selling Bitcoin in September as "the right trade," weeks before the firm set a new holdings record at the end of that month with a $143 million purchase. Despite the recent acceleration in accumulation, traders on prediction market Myriad — owned by Decrypt's parent company Dastan — assign just a 5% probability to Strategy surpassing one million BTC by year-end.

Separately, a Bermuda-based life insurance company operating entirely in Bitcoin announced Thursday a $37.5 million funding round led by Bain Capital Crypto, with participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital. In other industry developments, Blockchain.com confirmed to CNBC it has applied to the Commodity Futures Trading Commission for a designated contract market license and a futures commission merchant license to offer event contracts and cryptocurrency derivatives to U.S. customers, while hardware wallet provider Ledger has advised some customers to delay setting up new devices.