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Strategy Buys 1,665 Bitcoin for $142.7 Million

By: Sachin Kumar • September 28, 2026

 

Strategy Purchases 1,665 Bitcoin for $142.7 Million as Holdings Reach 847,666 BTC



Strategy has added another 1,665 Bitcoin to its corporate treasury, spending approximately $142.7 million as the company continues its aggressive Bitcoin accumulation strategy.

According to a September 28, 2026 filing, the company purchased the Bitcoin between September 21 and September 27 at an average price of $85,681 per BTC, including fees and expenses. The latest purchase takes Strategy's total Bitcoin holdings to 847,666 BTC, making the company's cryptocurrency treasury larger than ever.

The purchase is significant not only because of its size, but also because of how Strategy financed it. The company sold shares of its Class A common stock through its at-the-market offering program and used part of the proceeds to purchase Bitcoin.

Strategy's Latest Bitcoin Purchase

Strategy bought 1,665 BTC for $142.7 million during the latest reporting period.

The company's average purchase price for this transaction was $85,681 per Bitcoin. After the acquisition, Strategy reported total Bitcoin holdings of 847,666 BTC, acquired for an aggregate $63.95 billion at an average purchase price of $75,437 per Bitcoin, with fees and expenses included.

That means the latest purchase increased Strategy's Bitcoin holdings by roughly 0.2%, while adding about $143 million to the company's cumulative Bitcoin investment.

The acquisition also represents the second consecutive weekly Bitcoin purchase reported by Strategy, following a period when the company's buying activity had been less frequent.

How Strategy Funded the Bitcoin Purchase

Strategy did not simply use existing cash to fund the entire acquisition.

During the September 21–27 period, the company sold 1,469,165 shares of MSTR Class A common stock, generating approximately $246.2 million in net proceeds.

Of that amount:

  • $142.7 million was used to purchase Bitcoin

  • $103.5 million was used to repurchase STRC preferred stock

The company therefore continued to use its capital-markets strategy to fund Bitcoin accumulation while simultaneously managing its preferred securities.

This distinction matters for MSTR shareholders. Strategy's Bitcoin holdings can increase when the company raises capital through equity issuance, but issuing additional common shares can also increase the number of shares outstanding.

For investors, the relevant question is therefore not simply how much Bitcoin Strategy owns, but how its Bitcoin holdings compare with the number of shares and other securities supporting the company's capital structure.

Strategy Now Holds 847,666 Bitcoin

The latest acquisition pushes Strategy's Bitcoin treasury to 847,666 BTC.

At an aggregate purchase cost of $63.95 billion, the company's average acquisition price stands at $75,437 per Bitcoin.

The scale of the holdings makes Strategy one of the most important corporate participants in the Bitcoin market.

With Bitcoin's maximum supply capped at 21 million coins, Strategy's reported holdings represent roughly 4% of the eventual maximum supply. The percentage is based on the 21-million-coin maximum and does not mean Strategy owns 4% of all Bitcoin currently circulating.

The size of the position also means changes in Bitcoin's market price can have a substantial effect on the value of Strategy's treasury.

Why Strategy Keeps Buying Bitcoin

Strategy's business model has increasingly revolved around Bitcoin as a treasury asset.

The company, led by Michael Saylor, has positioned Bitcoin as its principal reserve asset and has used several financing mechanisms to acquire more BTC.

The strategy creates a direct relationship between three variables:

Bitcoin price → value of Strategy's holdings → market value and financing capacity of Strategy's securities.

When Bitcoin appreciates, the value of the company's treasury can rise. A stronger equity valuation can potentially make it easier for Strategy to raise additional capital, which can then be used for further Bitcoin purchases.

However, the mechanism also works in reverse.

If Bitcoin falls significantly, the value of the company's holdings declines while financing conditions could become less favorable.

What the Latest Purchase Means for MSTR Investors

For shareholders, the 1,665-Bitcoin purchase reinforces Strategy's commitment to maintaining Bitcoin exposure.

But investors should look beyond the headline number.

Strategy financed the latest Bitcoin purchase with proceeds from selling MSTR common stock. That means shareholders should monitor Bitcoin per share, rather than only the company's total Bitcoin holdings.

If Bitcoin holdings increase faster than the number of shares and other relevant securities, existing shareholders could potentially gain greater economic exposure to Bitcoin on a per-share basis.

If capital is raised at unfavorable terms or Bitcoin purchases fail to create sufficient value relative to the financing costs, the outcome can be different.

This is one reason Strategy's capital structure is as important as its Bitcoin balance.

Strategy Also Repurchased STRC Preferred Stock

The latest filing shows that Strategy was not solely focused on buying Bitcoin.

The company repurchased 1,534,530 shares of STRC preferred stock for approximately $151.7 million during the same period.

The move highlights how Strategy is managing multiple layers of its capital structure at the same time.

The company has common stock, several preferred securities and its Bitcoin treasury. Capital raised from one part of the structure can be allocated between Bitcoin purchases and security repurchases.

For investors, this makes Strategy different from a conventional operating company whose valuation is primarily based on revenue and profits from selling products or services.

The Main Risk: Bitcoin Volatility

The biggest risk remains Bitcoin's price volatility.

Strategy's enormous BTC position means a large move in Bitcoin can materially change the value of its digital-asset treasury.

The company's average acquisition price of $75,437 provides one reference point, but it should not be treated as a guaranteed floor for Bitcoin or MSTR.

Bitcoin can trade substantially above or below Strategy's average purchase price.

There is also financing risk. Strategy relies on capital markets to support its Bitcoin acquisition strategy. Common-stock issuance can provide funding, but it can also increase the share count.

Investors should therefore monitor future equity issuance, preferred-stock activity, debt obligations, cash reserves and Bitcoin purchases together rather than examining any one metric in isolation.

What Investors Should Watch Next

The next important developments for Strategy and MSTR include:

  • Further weekly Bitcoin purchases

  • Changes in Strategy's Bitcoin-per-share metrics

  • New MSTR share issuance

  • Bitcoin's market price relative to Strategy's average acquisition cost

  • STRC and other preferred-stock activity

  • Strategy's liquidity and capital-raising capacity

  • Changes in institutional demand for MSTR

  • The company's future approach to Bitcoin financing

The pace of Bitcoin accumulation will also be important. A single $142.7 million purchase is meaningful, but the longer-term investment case depends on how consistently Strategy can execute its treasury strategy and how that strategy affects shareholder value.

Conclusion

Strategy purchased 1,665 Bitcoin for $142.7 million between September 21 and September 27, taking its total holdings to a record 847,666 BTC at an average aggregate purchase price of $75,437 per Bitcoin.

The company funded the latest Bitcoin purchase using proceeds from MSTR stock sales, while also repurchasing $151.7 million of STRC preferred stock. The transaction demonstrates that Strategy continues to combine Bitcoin accumulation with active capital-structure management.

For investors, the key issue is not simply how many Bitcoin Strategy owns. The more important measures are Bitcoin per share, financing costs, dilution, liquidity and the company's ability to manage its large BTC exposure through different market conditions.

Follow the blog for more Bitcoin, cryptocurrency, stock-market and global finance updates.

This article is for informational and educational purposes only and should not be considered investment advice.

Educational Disclaimer: All content published on AIViralHub is strictly for educational and informational purposes. Investments in the securities market are subject to market risks. Read all scheme-related documents carefully before investing.