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Bitcoin Treasury Company Strategy purchased 250 bitcoins last week, spending $21.5 million, at an average price of $86,194 per coin, increasing its holdings to 848,250 coins.

Strategy mainly funds this Bitcoin purchase by selling $21 million worth of MSTR common stocks and holds $5.5 billion in US dollar assets.

The company stated on Monday that it purchased 250 bitcoins last week and repurchased $192.4 million worth of STRC preferred stocks.

According to a statement released by the company, this Bitcoin treasury firm purchased these bitcoins between October 5th and October 11th for $21.5 million, with an average cost of $86,194 per coin including fees. The company currently holds 848,250 bitcoins, setting a new record, and the total cost of these bitcoins is $64 billion, with an average cost of $75,444 per coin.

Last week, Strategy purchased $29 million worth of Bitcoin and repurchased $176 million of STRC, while also announcing third-quarter profits of $21 billion.

Strategy's US dollar reserves

As of October 11, Strategy holds $4.88 billion in US dollar reserves for preferred stock dividends and debt interest; in addition, there is $640.5 million in cash available for a wider range of purposes such as purchasing Bitcoin.

Strategy initially established this dollar reserve with $1.44 billion, and subsequently, after raising an additional $2 billion by selling MSTR shares, a separate dollar cash pool was set up.

The company also proposed to accrue its preferred stock dividends over 365 days of the year, and indicated that it could sell up to $1.25 billion in Bitcoin in accordance with its digital credit capital framework.

Strategy The CEO, Phong Le, defended the sale of Bitcoin in September, calling it a “correct transaction.” A few weeks later, at the end of the month, the company set a new holding record with a purchase of $143 million. Despite the increased purchasing volume, traders from the market forecasting division of Decrypt's parent company, Dastan, did not believe that the company's holdings of Bitcoin would exceed 1 million by the end of the year, assigning only a 5% probability to this outcome.