Strategy Buys 950 BTC ($76M) Using USD Cash Reserve

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Strategy (formerly MicroStrategy) has resumed its Bitcoin accumulation, acquiring an additional 950 BTC for approximately $75.7 million, according to a recent 8-K filing with the SEC. 

The purchase, executed between September 14 and September 20 at an average price of $79,670 per coin, was funded by the company's newly established "USD Cash" liquidity facility.

Funding the Purchase 

The 950 BTC purchase was funded by Strategy’s USD Cash reserve, which is separate from its USD Reserve. We reported on the establishment of Strategy’s USD Cash reserve here. 

In short, in late August, Strategy sold $2 billion worth of MSTR stock, with $1.59 billion of this going towards the new USD Cash facility. Since then, Strategy has used its USD Cash reserve to buy back STRC shares on multiple occasions. 

According to the recent 8-K, the USD Cash facility now sits at $1.05 billion whilst the USD Reserve facility sits at $5.04 billion. 

Following this latest purchase, Strategy's total Bitcoin treasury has grown to 846,000 BTC. This enormous reserve represents approximately 4% of Bitcoin's total 21 million supply. The overall stack was acquired at an average purchase price of $75,416 per coin, inclusive of fees and expenses, valuing the entire treasury at roughly $78 billion.

Recent DAT Purchases

Strategy’s latest acquisition arrives alongside accumulation across the digital asset treasury (DAT) sector. 

Bitcoin treasury company Strive recently acquired 1,355 BTC ($107.7M), bringing total holdings to 26,355 ($2.1B). 

Separately from Bitcoin, Ethereum treasury company Bitmine now has 5.98 million Ethereum tokens ($16.3B). It owns 4.9% of the entire ETH supply and is extremely close to reaching its target of 5%. Read our report into what happens after Bitmine reaches 5%. 

Tracking Strategy on Arkham

You can track Strategy's BTC holdings, monitor transfers, and set custom transaction alerts on their de-anonymized entity page here.