Bitcoin: Strategy buys 811 BTC and comes close to 850,000 bitcoins

The machine restarts. After a week without purchasing a single bitcoin, Strategy announced Monday, November 2, the resumption of its purchases. The company acquired 811 BTC between October 26 and November 1. The addition amounts to $65.5 million, and its reserve climbs to 849,327 BTC.

The key points of this article:

Strategy relaunched its bitcoin purchases after a week's break, with 811 units acquired.

In total, the company's bitcoin treasury now stands at 849,327 units.

The sale of $164 million in shares on the market financed the operation.

Strategy also purchased $208.2 million worth of STRC preferred shares.

A very measured return to purchase

The regulatory form filed with the SEC, and immediately published on X, details the operation. The week's 811 bitcoins cost $65.5 million, or an average price of $80,846 per unit.

The total stock climbs to 849,327 BTC, a mountain of bitcoins that have cost an average of $75,451 per unit since inception. The threshold of 850,000 bitcoins is now within reach, within 673 units.

Of the 21 million units that will one day exist, Strategy already holds 4.04%, collected purchase after purchase. The acquisition of the week remains a drop in the bucket in this pile, with 811 units which weigh less than 0.1% of the total stock.

The previous week, Strategy had not purchased a single bitcoin and devoted its cash to buying back its own securities. Behind this dropper, the financing method has not changed and is based on a mechanism that has been in operation for years.

The answer lies in an acronym: ATM, for at-the-market. This program allows you to sell shares over time, directly on the market, without organizing a large fundraising effort.

This week, Strategy sold 1,178,552 MSTR shares for a net $164 million. The company split the sum in two: $65.5 million bought bitcoin, the rest grew a pot of dollars. For example, out of 100 dollars collected, around 40 went into bitcoins.

This kitty was mainly used to support the STRC preferred shares, the rhythm of which had changed last week, for $208.2 million in redemptions. Once these buyouts were paid, $132.7 million remained as of November 1.

Strategy did not issue any preferred shares during the week, and all financing is through single shares.

Another cog in the machine, a dedicated reserve of $4.79 billion pays preferred stock dividends, to the tune of $43.4 million this week.

MSTR's ATM program still has $18.6 billion in issuance capacity, enough to fuel the machine for a long time.