MicroStrategy Resumes Bitcoin Buying with 950 BTC Purchase

MicroStrategy (formerly Strategy) bought 950 Bitcoin during the week ending September 20 and repurchased $174 million of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). The purchase ends a two‑week gap in the company’s Bitcoin accumulation.

Scale of the latest purchase

At the $81,200 price used in the filing, the 950 BTC are valued at roughly $77 million. This brings the firm’s total Bitcoin holdings to about 846,000 BTC, valued at $6.09 billion in USD assets as of September 20.

Comparison with the August buy

The previous acquisition on August 31 added 4,603 BTC for $369.7 million at an average price of $80,318 per coin. The September purchase is about 79 % smaller in dollar terms.

Preferred‑stock repurchase

MicroStrategy spent $174 million to buy back STRC shares, a class designed to trade near $100 per share. The repurchase price was more than twice the per‑coin cost of the Bitcoin bought. The company began buying back STRC in late July at an average of $86.52 per share; the stock closed at $98.51 on the Friday before the filing.

Strategic rationale

Chief Executive Phong Le explained that repurchasing STRC below $100 per share reduces future preferred‑dividend obligations at a discount. The buybacks are funded by sales of common shares and potential Bitcoin sales, not by the company’s cash reserves.

Market context

Bitcoin rose to around $85,020 on Monday, up nearly 6 % over 24 hours, surpassing the price used in MicroStrategy’s internal calculations. The firm’s common stock trades at roughly 0.88 times the value of its Bitcoin holdings, according to BitcoinTreasuries.

Outlook

The next filing will reveal whether the 950‑coin purchase represents a new baseline or a temporary pace for future acquisitions.