Update
Strategy Adds to Bitcoin Holdings
Strategy, the company led by Michael Saylor, has announced additional purchases of Bitcoin (BTC) in the first week of October. Saylor hinted at these purchases through a post on X, but any official announcement regarding the amount and timing of these purchases is expected to come on Tuesday, following the federal offices' holiday on Monday. During the week of September 28 to October 4, Strategy spent $28.7 million on purchasing 334 Bitcoin, bringing its total holdings to 848,000 BTC. Additionally, Strategy repurchased 1.77 million shares of its STRC preferred stock for $176.3 million. Independent analyst Shanaka Anslem Perera noted that Strategy raised $5.41 billion from new common shares in the third quarter and ended with 1,666 more BTC than it held at the end of June. Perera's analysis suggests that while Strategy raised billions through share sales, it also maintained significant cash reserves and preferred shareholder buybacks, which can be used for future Bitcoin purchases and to strengthen the balance sheet for shareholders.