Strategy Dropped $100M on 850 Bitcoin Like It Was Loose Change

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Markets

What to know:

  • MSTR bought 850 BTC for $99.7 million or an average price of $117,344 per coin. Yeah, just a casual investment.
  • Total holdings now stand at 639,835 BTC, with an average cost of $73,971. So, they’re doing… okay?
  • The majority of the fresh purchases were funded through good ol’ common stock sales. Because why not?

So here’s the deal: Strategy (MSTR), ever the overachiever, decided to spice things up last week by adding 850 more Bitcoin to their ever-growing digital collection. But, wait for it… it wasn’t exactly the kind of splash that would make headlines at a Bitcoin party. A mere $99.7 million for 850 BTC. What a steal, right? I mean, it’s not like they couldn’t spare it.

The company announced that it added these 850 shiny new coins for a modest $117,344 per Bitcoin, making their overall average cost a tidy $73,971. You know, just the kind of number you’d expect from a group of people who view Bitcoin as a new-age treasure hunt but without the pirates.

Oh, and in case you were wondering, how does one fund such a gloriously lavish Bitcoin binge? Well, they did it the modern way – by issuing a combination of perpetual preferred stock and common stock sales at-the-market (ATM). Translation: they sold a bunch of stock, probably hoping no one noticed that Bitcoin just dipped below $112,000. Don’t worry, it’s all part of the plan.

In a small twist of irony (because why not?), MSTR’s stock dipped by 2.5% in premarket trading. Apparently, the idea of buying Bitcoin at the height of the market doesn’t exactly inspire investor confidence when that market takes a dive. Who knew?

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2025-09-22 16:43