Strategy disclosed on September 28 that it bought 1,665 BTC for $142.7 million during the preceding week, lifting its Bitcoin holdings to 847,666 BTC as of September 27. The purchase adds to one of the largest corporate Bitcoin treasuries, but it took place before the filing rather than representing a new order placed on announcement day.
The company paid an average of $85,681 per BTC, including fees and expenses. Its cumulative acquisition cost reached $63.95 billion, or an average of $75,437 per BTC, according to its Form 8-K. These are purchase costs, not the current market value of its holdings.
Strategy financed the purchase through its at-the-market sale of common shares. It sold 1,469,165 MSTR shares for $246.2 million in net proceeds, allocating $142.7 million to Bitcoin and $103.5 million to repurchases of its STRC preferred shares. The same filing reports $151.7 million in total STRC repurchases for the week, with the balance funded from existing cash. Adding the full stock proceeds to the BTC purchase would count the same financing twice.
The fresh acquisition increases direct corporate demand for BTC, while the share issuance expands MSTR’s common-share count. For investors assessing the treasury strategy, the relevant comparison is the change in Bitcoin held per diluted share, not the headline BTC balance alone. Strategy also reported a $5.02 billion dollar reserve for preferred dividends and debt interest, plus $1.00 billion of separate dollar cash at September 27.
Traders watching the live BTC price can compare any reaction to the disclosed purchase with spot-market volume and subsequent company filings. The purchase is already completed, and neither its size nor Strategy’s holdings establish a near-term price direction. The next measurable signals are any further BTC acquisitions, common shares issued to fund them, and whether Bitcoin per diluted share improves while the company maintains its dollar liquidity.
Sources: Strategy Form 8-K, September 28, 2026; The Block report, September 28, 2026.
This article is for information only and is not investment advice. Bitcoin prices, financing costs, equity dilution, and future company decisions carry material risks.
