Strategy bought 1,665 more bitcoins last week, raising its total holdings to 847,666 BTC.
Cointelegraph reported on Sept. 28 that the purchase was worth $142.7 million.
In an 8-K filing to the U.S. Securities and Exchange Commission, the company said it bought 1,665 bitcoins from Monday through Sunday last week at an average $85,681 per coin. That took cumulative bitcoin purchases to $63.95 billion, including fees and other costs. The overall average purchase price is $75,437 per bitcoin.
The company funded the purchase through a sale of common stock. Strategy sold 1.47 million MSTR shares for net proceeds of $246.2 million, and allocated $142.7 million of that to bitcoin purchases.
It also carried out a preferred share buyback. Strategy repurchased 1.53 million STRC shares for $151.7 million, including $48.1 million funded from the company’s U.S. dollar cash holdings. In the prior week, it bought 950 bitcoins for $75.7 million after a two-week pause in purchases.
The company’s cash balance fell to $1 billion from $1.05 billion the previous week. Its separate U.S. dollar reserve maintained for preferred dividends and debt interest payments also declined to $5.02 billion from $5.004 billion after paying $22.1 million in dividends.
Strategy is continuing a capital structure adjustment alongside bitcoin purchases. Part of the proceeds from the stock sale was used for bitcoin purchases, with the rest used for the STRC preferred share buyback. It is managing funds by expanding bitcoin holdings while reducing the amount of preferred shares.
The recent purchase size increased from earlier levels. After buying 950 bitcoins for $75.7 million the previous week, Strategy added 1,665 more this time. It has made purchases for two consecutive weeks after a two-week halt, reinforcing its bitcoin-focused asset management strategy.