Strategy Investment announced that it purchased 811 Bitcoin between Oct. 26 and Nov. 1, spending $65.5 million and bringing its total treasury to 849,327 BTC. The acquisition marks a return to buying after a one‑week pause, the first such break since mid‑September, according to a filing with the U.S. Securities and Exchange Commission.

BTC / USD
Source: CoinGecko. Prices are indicative.

Funding the Purchase

The firm financed the Bitcoin buy by selling 1,178,552 shares of MicroStrategy (MSTR) stock, generating $164 million in net proceeds. Of that amount, $65.5 million was allocated to the Bitcoin purchase and $98.5 million was placed into Strategy’s USD Cash account. The average price paid for the 811 BTC was $80,846 per coin.

Impact on Cash and Preferred‑Stock Repurchases

Strategy’s USD Cash balance fell to $132.7 million from $242.4 million a week earlier, reflecting the outflow for the Bitcoin purchase and a $208.2 million buyback of 2,092,035 shares of its variable‑rate preferred stock (STRC). The preferred‑stock repurchase was funded entirely from the USD Cash pool, up from $204.9 million the prior week.

Overall Treasury Position and Outlook

With the latest acquisition, Strategy now holds BTC acquired for a total of $64.08 billion at an average cost of about $75,451 per coin. The firm’s combined USD assets stand at $4.9 billion, giving it a “USD Duration” of 3.3 years—an indicator of how long its cash reserves can cover dividend and interest obligations. The purchases come as STRC moves to a new daily dividend schedule, with shareholders approving daily dividends for all four preferred series on Nov. 1.

What to Watch Next

Analysts will monitor whether Strategy’s continued Bitcoin accumulation influences its leverage metrics, currently reported at a net leverage of 2.4 %. Additionally, MSCI’s upcoming index eligibility review—due Nov. 11—could affect the firm if it is removed from equity indexes that limit exposure to single‑asset companies. Finally, market participants will watch MSTR’s share price response to the large secondary offering that funded the Bitcoin buy.