Strategy adds 950 Bitcoin, restoring its treasury to 846,000 BTC

Strategy, the treasury firm led by Michael Saylor, increased its Bitcoin holdings by 950 BTC between September 14 and September 20, spending $75.7 million at an average price of $79,670 per coin. The purchase brings the company’s total Bitcoin balance to exactly 846,000 BTC, roughly 4 % of the 21 million Bitcoin that can ever exist.

Cash deployment and preferred‑stock repurchase

In the same week, Strategy used $174 million of cash to repurchase 1,771,238 shares of its variable‑rate STRC preferred stock. No shares were sold through its at‑the‑market offering program during this period.

Balance‑sheet impact

• USD cash used: $75.7 million for Bitcoin, $174 million for STRC.
• Total cash outflow: $249.7 million.
• Remaining USD assets: $6.09 billion (comprising $5.04 billion in USD reserve and $1.05 billion in cash).
• Preferred‑stock repurchase authorization: $875.1 million remaining.
• Common‑stock repurchase authorization: $1 billion remaining.

Historical context

Strategy previously reached the 846,000 BTC level at the end of June, sold Bitcoin during July and August, and then rebuilt its position. The latest 950‑BTC purchase restores the treasury to the same milestone.

Capital‑structure notes

Saylor disclosed a USD duration of 3.8 years and a STRC BTC credit of 53 basis points, assuming a 10 % annualized Bitcoin return, 40 % Bitcoin volatility, and a Bitcoin price of $81,200.