MicroStrategy, recently rebranded as Strategy, acquired 334 Bitcoin for $28.7 million last week. This purchase brings the company's total holdings to 848,000 BTC. The acquisition marks the third consecutive week of buying, although the volume is significantly lower than the 1,665 BTC purchased the previous week.
During the same period, the company allocated $176.3 million to repurchase 1.77 million shares of its preferred stock, STRC. This buyback expenditure is approximately six times the amount spent on Bitcoin. The company utilized $154.1 million from its cash reserves for these repurchases, while Bitcoin acquisitions were funded by $13 million in cash and $15.7 million from the sale of 92,894 common shares.
The company reported a $20.91 billion gain on its Bitcoin holdings for the third quarter, allowing it to reverse a $4.12 billion tax asset. At a market price of $85,377 per coin, the total value of the Bitcoin stash is estimated at $72.4 billion, against a total cost basis of $63.97 billion.
Strategy maintains a $4.88 billion reserve for dividends and interest, alongside $833.4 million in general cash. Shareholders are scheduled to vote on October 28 regarding a proposal to distribute daily dividends across the company's four preferred stock classes.
