Strategy has resumed Bitcoin accumulation with an 811 BTC purchase worth $65.5 million, while fellow treasury company Strive has reported buying another 124 BTC for approximately $10 million.
Summary
- Strategy purchased 811 BTC for $65.5 million, bringing its total Bitcoin holdings to 849,327 BTC.
- Strive reportedly acquired another 124 BTC for approximately $10 million, raising its holdings to 43,124 BTC.
- Both companies purchased a combined 935 BTC for approximately $75.5 million during the latest reporting period.
- Strategy raised $164 million through MSTR stock sales and separately repurchased $208.2 million of STRC preferred shares.
- Bitcoin traded near $77,700 on November 2, below the average purchase prices reported by both companies.
According to Strategy’s November 2 filing, the company purchased Bitcoin between October 26 and November 1 at an average price of $80,846 per coin. Strive reportedly paid slightly above $80,500 per Bitcoin during the latest reporting period.
Together, the purchases amounted to 935 BTC worth approximately $75.5 million. The announcements followed Bitcoin’s decline below $80,000, with the cryptocurrency trading near $77,700 on November 2.
Strategy buys 811 BTC after previous week’s pause
Strategy returned to Bitcoin purchases after reporting no acquisitions during the preceding week.
The latest transaction brought its holdings to 849,327 BTC, purchased for approximately $64.08 billion, including fees and expenses.
According to the company’s filing, its average acquisition cost across the entire Bitcoin portfolio stood at $75,451 per coin.
At the November 2 market price of around $77,700, Bitcoin traded below Strategy’s latest purchase price but above its overall acquisition average.
The company financed its latest acquisition by selling 1,178,552 shares of MSTR common stock through its at-the-market offering program.
Those transactions generated approximately $164 million in net proceeds, with $65.5 million allocated directly to purchasing Bitcoin.
Another $98.5 million went into the company’s USD Cash balance, which management uses for Bitcoin acquisitions and other treasury activities.
Strategy reported no preferred-share sales during the period, separating the new Bitcoin purchase from its preferred-stock financing arrangements.
As crypto.news previously reported, Strategy paused Bitcoin acquisitions during October 19–25 while continuing to repurchase its preferred shares.
The earlier pause left its holdings unchanged at 848,517 BTC before the latest purchase.
Strategy spends $208.2 million buying back STRC shares
Alongside its Bitcoin acquisition, Strategy repurchased 2,092,035 shares of its STRC preferred stock for approximately $208.2 million.
STRC is a variable-rate preferred security designed to provide regular dividend payments to investors.
The company funded the repurchases using existing USD Cash, according to the Form 8-K.
Strategy spent more than three times as much on STRC repurchases as it allocated to Bitcoin purchases during the week.
Earlier reporting on STRC repurchases documented a similar capital allocation pattern.
During October 5–11, Strategy acquired 250 BTC for $21.5 million while spending approximately $192.4 million buying back preferred shares.
Management has described discounted STRC repurchases as a way to reduce future dividend obligations associated with outstanding preferred securities.
The November 2 filing showed $748.6 million remained available under its digital credit securities repurchase authorization.
Strategy’s designated USD Reserve stood at $4.79 billion as of November 1, while its separate USD Cash balance reached $132.7 million.
The company used $43.4 million from its reserve to fund preferred dividends during the reporting period.
Strive adds 124 BTC after record treasury purchase
Meanwhile, Strive reported purchasing 124 BTC for approximately $10 million, taking its total holdings to 43,124 BTC.
The latest acquisition followed the company’s purchase of 6,182 BTC during October 17–23, its largest single acquisition at the time.
According to Strive’s October filing, the earlier transaction was completed at an average price of $82,732 per Bitcoin.
Strive increased its holdings from 36,818 BTC to 43,000 BTC through that purchase.
The latest 124 BTC acquisition was considerably smaller, with spending falling from more than $511 million to around $10 million.
Strive reportedly funded most of the new purchase using existing cash.
Its cash and cash equivalents declined from $504.4 million to approximately $490.4 million during the reporting period.
The company continued holding 505,000 STRC shares issued by Strategy, maintaining exposure to its competitor’s preferred securities.
Previous analysis of treasury financing examined how both companies have used preferred stock to support Bitcoin purchases.
Strive raised approximately $630 million through its October SATS preferred offering, which carries a fixed 15% annual dividend based on its stated value.
Bitcoin treasury purchases continue below $80,000
The latest corporate acquisitions were disclosed after Bitcoin fell below $80,000 following the October 29 Binance security breach.
Strategy and Strive completed their respective purchases at prices above the levels seen during November 2 trading.
At approximately $77,700 per Bitcoin, Strategy’s latest purchase price was around 4% higher than the market price.
Strive’s reported average purchase price was similarly above the prevailing market level.
Both companies continue acquiring Bitcoin while managing the financing arrangements supporting their treasury portfolios.
Strategy’s filing confirmed that its entire $65.5 million Bitcoin purchase came from MSTR stock sales, while existing cash funded its preferred-share repurchases.
Strive’s latest reported holdings reached 43,124 BTC following its smaller weekly purchase, compared with 43,000 BTC recorded in its October 26 disclosure.
