Catenaa, Monday, September 21, 2026- Strategy bought 950 bitcoin for $75.7 million from September 14 to 20 using cash, lifting its treasury to 846,000 BTC, an SEC filing showed.
The company paid an average $79,670 per bitcoin, including fees and expenses, according to its filing with the US Securities and Exchange Commission.
Strategy’s total bitcoin holdings were acquired for about $63.8 billion at an average cost of $75,416 per coin.
The purchase resumes bitcoin accumulation after Strategy made no acquisitions during the previous two reporting weeks.
Strategy funded the latest bitcoin acquisition from its USD Cash balance rather than raising fresh capital through its at-the-market stock programs.
The company said it sold no shares through those programs between September 14 and 20.
That differs from much of Strategy’s earlier bitcoin acquisition model, which frequently paired equity issuance with purchases of the cryptocurrency.
Strategy also spent $174 million during the week to repurchase 1,771,238 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC.
The STRC repurchase was therefore more than twice the amount Strategy spent buying bitcoin during the reporting period.
Strategy also used $57.4 million from its USD Reserve to meet preferred-stock dividends and interest payments on outstanding debt.
As of September 20, the company reported $5.04 billion in its USD Reserve and another $1.05 billion in USD Cash.
The two balances together totaled about $6.09 billion.
Strategy’s latest purchase raises its bitcoin holdings by about 0.11% and takes the company above 4% of bitcoin’s maximum 21 million supply.
The 846,000 BTC treasury represents about 4.03% of bitcoin’s eventual supply cap.
The purchase marks another turn in Strategy’s bitcoin activity after a period in which the company both reduced and rebuilt its holdings.
Strategy’s own bitcoin ledger shows the company held 846,000 BTC on June 30.
Its holdings subsequently declined to 843,775 BTC in early July and fell further to 840,447 BTC by August 10.
Strategy returned to buying at the end of August, acquiring 4,603 BTC for about $369.7 million at an average price of $80,318.
That transaction lifted holdings to 845,050 BTC.
The latest 950 BTC acquisition therefore returns Strategy to the same 846,000 BTC level reported at the end of June.
The latest purchase was also much smaller than the August 31 acquisition.
Strategy spent $75.7 million on bitcoin during the latest period, compared with nearly $370 million for the previous purchase.
Executive Chairman Michael Saylor had signaled another possible acquisition on social media before Monday’s filing, continuing a pattern frequently seen before Strategy announces bitcoin transactions.
The company formerly operated primarily as an enterprise software business under the MicroStrategy name.
Its corporate identity has increasingly become tied to its bitcoin treasury and the financing structure built around that strategy.
The latest filing also shows that bitcoin is only one part of Strategy’s current capital allocation.
During the week, the company directed $174 million toward STRC repurchases while spending less than half that amount on bitcoin.
STRC is one of several preferred securities Strategy has introduced as part of its financing structure.
The company designed STRC to trade near a stated $100 amount while paying variable dividends.
Buying those shares back below their stated amount can reduce the number of preferred shares requiring future dividend payments.
Strategy has increasingly used preferred stock alongside common equity, debt and cash as it manages its bitcoin holdings and corporate obligations.
The September 21 filing showed no repurchases of its STRF, STRK or STRD preferred shares during the latest period.
It also reported no repurchases of MSTR common stock.
Strategy still had $875.1 million available under its authorization to repurchase digital credit securities.
Its separate authorization for MSTR common-stock repurchases remained at $1 billion.
Strategy’s decision to buy bitcoin without selling shares through its ATM programs changes the immediate effect on existing shareholders.
When bitcoin acquisitions are funded through newly issued common shares, the company increases its bitcoin holdings while also expanding its share count.
Cash-funded purchases avoid that immediate dilution.
BTCperShare, which tracks Strategy’s treasury structure, calculated that bitcoin per diluted share increased by about 0.11% during the latest reporting period.
The tracker cautions that bitcoin per share is not the same as net asset value or shareholder return because it does not deduct debt or preferred-stock claims.
The STRC repurchase adds another dimension.
Reducing preferred shares can lower future dividend obligations, but it also consumes cash that could otherwise be used for bitcoin purchases, debt repayment or other corporate purposes.
Strategy’s latest filing therefore illustrates a broader capital allocation model than simply converting every available dollar into bitcoin.
The company is simultaneously managing bitcoin exposure, preferred securities, debt costs, dividends and cash reserves.
Market analysis following the filing focused on Strategy’s decision to spend more on STRC repurchases than on bitcoin.
BTCperShare noted that the 950 BTC acquisition occurred without ATM issuance and therefore increased bitcoin holdings without expanding the diluted share count during the period.
The analysis also highlighted the growing importance of Strategy’s preferred securities within its financing structure.
Strategy executives have previously argued that repurchasing STRC below its stated amount can reduce future preferred dividend costs at a discount.
That calculation becomes more relevant as STRC trades closer to its $100 stated amount.
The balance between bitcoin purchases and preferred-stock management may therefore become an increasingly watched measure of Strategy’s capital policy.
Strategy’s 950 BTC purchase ends its latest pause in accumulation and restores the company’s treasury to 846,000 bitcoin.
The acquisition itself is modest compared with several of Strategy’s earlier purchases.
Its importance lies partly in how it was financed.
Strategy used existing cash rather than issuing shares through its ATM programs, while simultaneously spending $174 million reducing its STRC preferred-stock exposure.
The filing shows a company still committed to holding an exceptionally large bitcoin position while increasingly managing the financing structure built around that treasury.
With more than 4% of bitcoin’s fixed supply now on its balance sheet, Strategy remains the dominant corporate holder of the cryptocurrency.
