Strategy Buys 950 Bitcoin as Holdings Reach 846,000 BTC

The investment firm Strategy purchased 950 Bitcoin for approximately $75.7 million between September 14 and September 20, marking its first acquisition since late August. This purchase brings the company's total holdings to 846,000 Bitcoin, acquired for roughly $63.8 billion at an average price between $74,417 and $75,416 per coin.

The acquisitions coincided with a Bitcoin price rally to nearly $86,000, shifting Strategy from a potential $10 billion unrealized loss to approximately $8 billion in unrealized profits. This recovery follows a difficult second quarter where falling prices resulted in an $8.2 billion net loss. Market analysts attribute the renewed momentum to U.S. Treasury actions regarding long-term government bonds and the market's reaction to a quarter-point interest rate hike announced by Federal Reserve Chair Kevin Warsh on September 16.

Alongside the cryptocurrency purchases, Strategy used $174 million in cash to repurchase 1.77 million shares of its STRC preferred stock and $57.4 million from its USD reserve to pay dividends on preferred stock. The company currently maintains $5 billion in its USD reserve and $1 billion in USD cash. Following these moves, Strategy shares rose between 7% and 9% to $167.