Strategy Makes Its Largest Bitcoin Purchase Since September, Keeps Buying Back More STRC

• This was its largest weekly purchase since it added 1,665 BTC on September 28.
• The purchase follows a week in which Strategy bought no Bitcoin and spent $205 million buying back its STRC preferred stock.
• Strive Inc. added to its Bitcoin treasury, expanding its holdings by buying 124 BTC for $10 million at $80,526 per.

Strategy (MSTR) shares edged higher on Monday morning, as the company reported its largest weekly Bitcoin (BTC) purchase since late September.

Strategy said it purchased 811 Bitcoin for about $65.5 million over the past week, according to a filing with the U.S. Securities and Exchange Commission (SEC). It paid an average of $80,846 per coin, the company's largest purchase since September 28, when it reported buying 1,665 BTC. The purchase, however remains, below 1,000 BTC since September. 

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The company said it funded the latest Bitcoin purchase by selling about 1.18 million MSTR shares for roughly $164 million. It now holds 849,327 BTC, bought at an average cost of $75,451 per coin. 

The latest purchase came after the firm skipped Bitcoin purchases last week and repurchased $205 million of its Strategy's "Stretch" Preferred Stock (STRC) instead. The company also said that it holds $4.9 billion in its USD reserve.

Q3 Profit Tops $19B

The BTC accumulation came days after Strategy reported its third-quarter results. The company posted net income of $19.5 billion, or $44.75 per diluted share, with a $20.9 billion gain on its operating revenue. Its software revenue fell 3% from a year earlier to $125.4 million.

On the earnings call, Strategy Executive Chairman Michael Saylor pushed back on concerns about rival Bitcoin products. He compared the trend with oil and electricity. "It's like oil got financialized, electricity got financialized, and Bitcoin's getting financialized," he said, calling it "a good thing."

MSTR stock was up over 3% during morning trade. On Stocktwits, the retail sentiment around MSTR remained in the ‘extremely bullish’ zone, while chatter around it stayed at ‘high’ levels over the past day.’

Strive Also Adds Bitcoin

Another Bitcoin treasury company, Strive Inc (ASST), also added to its holdings by buying 124 BTC for about $10 million at an average price of $80,526 per coin. That brought its total Bitcoin holdings to 43,124 BTC. 

ASST stock was down over 2% during morning trade. On Stocktwits, the retail sentiment around ASST remained in the ‘bearish’ zone, while chatter around it shifted to ‘low’ from ‘normal’ over the past day.

Additionally, Bitcoin’s price was down only 0.8% over the past 24 hours, trading around $77,319. On Stocktwits, the retail sentiment around BTC remained in the ‘extremely bearish’ zone, while chatter around it stayed at ‘normal’ levels over the past day.

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