Strategy Buys $65.5 Million in Bitcoin as Michael Saylor Adds 811 BTC

Strategy (NASDAQ:MSTR) bought another 811 Bitcoin (CRYPTO: BTC) for roughly $65.5 million last week, resuming its accumulation after a brief pause the week before.

What the Filing Shows

Strategy disclosed in an 8-K filing Monday that it acquired the Bitcoin between Oct. 26 and Nov. 1 at an average price of $80,846 per coin. 

The purchase brings total holdings to 849,327 BTC, worth roughly $65.9 billion, acquired for a combined $64.1 billion at an average cost of $75,451 per coin, representing more than 4% of Bitcoin’s total supply cap.

Strategy funded the purchase through at-the-market sales of its Class A common stock, selling 1,178,552 MSTR shares for approximately $164 million during the period. The company still has $18.62 billion available under that ATM program.

Strategy also repurchased nearly 2.1 million STRC preferred shares for around $208.2 million using its USD Cash reserve, and spent $43.4 million from its USD Reserve to fund preferred stock dividends. 

As of November 1, the company held $4.79 billion in its USD Reserve and $132.7 million in USD Cash.

Strategy’s weekly buying pattern showed up on social media too: Executive Chairman Michael Saylor posted on X Sunday, as he does most weeks, writing simply, "We found room for even more orange."

Why Strategy’s CFO Stepped Down Last Week

As CoinDesk reported Friday, Strategy Chief Financial Officer Andrew Kang resigned for personal reasons, with his departure taking effect Nov. 5. 

The company said the move wasn’t the result of any disagreement over operations, policies or practices, and Kang will stay on in an advisory role through Dec. 31.

Reza Virasteh, currently executive vice president of operations, will step in as co-principal financial officer starting January 1, working alongside President and CEO Phong Le during the transition. 

Le will retain oversight of Bitcoin strategy, capital markets, treasury and investor relations, while Virasteh focuses primarily on the finances and budget of Strategy’s software business.

The leadership change came the same week Strategy reported roughly $21 billion in third-quarter operating income and confirmed it had raised $21 billion in capital year to date, with Bitcoin holdings up 26% since the start of the year as of October 25.

Where MSTR Stands Technically

MSTR rose about 1% in Monday’s premarket trading, rebounding after falling nearly 8% Friday to close at $130.51. 

The stock remains below all four major moving averages, with a daily RSI near 40 pointing to weak momentum.

Key levels for MSTR:

• $124: Friday’s low before buyers stepped back in
• $136.50 to $139: first resistance zone, where the 100-day EMA and 50% Fibonacci retracement converge

Image: Shutterstock