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Strategy (MSTR) disclosed in an SEC 8-K filing Monday that it bought 1,665 bitcoin between September 21 and 27 for $142.7 million, paying an average price of $85,681, according to Dow Jones Newswires. The purchase was the company’s second weekly buy in a row, following a $396.7 million acquisition the week before, and brings total holdings to 847,666 BTC.
What happened
Bitcoin hovered near $84,200 on September 29 — roughly 12% above Strategy’s average cost. The company has now accumulated 847,666 BTC for about $63.95 billion, at an average cost of $75,437 per coin, cementing its position as the world’s largest corporate holder of bitcoin.
Why it matters
Corporate-treasury demand keeps absorbing supply even as on-chain data shows spot demand cooling. Bitcoin is up roughly 44% in Q3 — its second-best third quarter ever — while US spot ETFs logged eight straight days of net inflows. Flows are fading, though: $31.07 million on September 28 versus a record $998.95 million on September 21.
- 1,665 BTC bought for $142.7M at $85,681 average
- Total: 847,666 BTC for ~$63.95B (avg cost $75,437)
- BTC up ~44% in Q3 — second-best Q3 on record
- US spot ETFs: 8 straight inflow days; Sept 28 inflows of $31.07M vs. a $998.95M record on Sept 21
What to watch
Traders will be watching Wednesday’s August PCE report and Friday’s September payrolls for clues on the Fed’s next move, with October hike odds sitting near a coin flip at roughly 47-51%. The key question for crypto markets: whether Strategy keeps its weekly buying streak alive.
Related reading: Spot bitcoin ETFs post $2.8B six-day inflow streak and Bitcoin posts second-best Q3 ever as Ethereum sets a quarterly record.
Is corporate-treasury buying enough to keep bitcoin bid if spot demand keeps cooling? Drop your view below.
Sources:
Dow Jones: Bitcoin hovers around $84,000 after gold tumbles
Blockchain Reporter: Bitcoin News Today
CoinDesk: Bitcoin rally shows signs of cooling even as a bull score gauge nears its perfect scoreAuto-posted by the Bull Lounge news desk.
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