Strategy just went the other way. The company purchased 1,550 Bitcoin for approximately $101 million, wiping out last week's token sale of 32 BTC and pushing its total stash to a new high of 845,256 BTC. The purchase comes as the broader crypto market takes a hit — Bitcoin is down nearly 12% over the past seven days, hovering around $63,400.
1,550 BTC at $63,400
The buy was disclosed in an SEC 8-K filing late Monday. Strategy paid roughly $65,161 per coin on average, a slight premium to the current spot price. CEO Phong Le said the company's strategy is to increase net Bitcoin and Bitcoin per share over time — a mantra that's held through both rallies and drawdowns.
ATM stock offerings fund the purchase
To pay for the latest haul, Strategy sold shares of MSTR through its at-the-market equity offering program. The company has leaned heavily on ATM sales this year to raise cash for Bitcoin buys, a tactic that dilutes existing shareholders but lets the firm keep accumulating without touching its debt lines.
$1 billion in dividend reserves
Separately, Strategy added $100 million to its USD reserves, bringing the total to $1 billion. The company says the cash is earmarked to support dividend payments — a relatively new feature for the stock, which started paying a dividend earlier this year.
ETF outflows tell a different story
The institutional mood looks less bullish. US Bitcoin spot ETFs saw a net outflow of $1.72 billion last week, the fourth consecutive week of negative flows. That exodus suggests traditional fund investors are trimming exposure after Bitcoin's recent slide, even as Strategy keeps buying.
For now, Strategy is sticking to the playbook: sell shares, buy Bitcoin, repeat. The next 8-K will show whether the pace holds.
