Strategy has returned to Bitcoin buying with a 950 BTC purchase as the cryptocurrency briefly climbed above $85,000, extending a broader market rebound fueled by ETF demand, short covering and improving risk appetite.
The company acquired the Bitcoin between September 14 and September 20 for $75.7 million at an average price of $79,670 per coin. The purchase lifted Strategy’s holdings to 846,000 BTC, acquired for approximately $63.8 billion at an average cost of $75,416.
The purchase marks Strategy’s first weekly Bitcoin addition since late August. The company had held 845,050 BTC while directing cash toward STRC repurchases earlier this month.
Strategy Spends Another $174 Million on STRC
Strategy also repurchased approximately $174 million of its Variable Rate Series A Perpetual Stretch Preferred Stock during the latest reporting period, continuing a capital-management program that has run alongside its Bitcoin accumulation.
The company ended September 20 with approximately $5.04 billion in its USD Reserve and another $1.05 billion in USD Cash. The reserve is primarily maintained to support preferred-stock dividends and interest obligations, while USD Cash can be deployed toward Bitcoin purchases and other treasury uses.
At Bitcoin’s intraday peak above $85,253 on Monday, Strategy’s 846,000 BTC position was worth roughly $72 billion, placing the market value of the holdings more than $8 billion above their aggregate acquisition cost. That spread narrowed as BTC later retreated from the session high.
Strategy shares also rallied with the crypto market, trading around $164 after gaining roughly 7% during Monday’s session.
Bitcoin Breaks $85,000 as Crypto Market Rebounds
Bitcoin reached $85,253 on September 21, its highest level in eight months. The move extended a recovery that has taken BTC from around $76,000 on September 16 to above $80,000.
Several forces have supported the advance rather than a single catalyst.
Crypto investment products had already recorded $1.3 billion in weekly inflows through the previous reporting period, while U.S. spot Bitcoin ETFs returned to positive daily flows after heavy redemptions earlier in September.
Short covering added further momentum as Bitcoin broke through levels that had capped previous rallies. Falling oil prices and a pullback in U.S. Treasury yields also improved broader risk appetite on Monday, helping equities and crypto assets move higher together.
Ethereum climbed above $2,740 during the session, while Solana, XRP, BNB and several other large-cap tokens also advanced, showing that the move extended beyond Bitcoin.
Strategy’s 950 BTC purchase was executed at an average of $79,670, leaving the latest batch already above its acquisition price even if Bitcoin pulls back from Monday’s $85,253 intraday high.
