MicroStrategy CEO Michael Saylor has resumed Bitcoin purchases while managing capital through a STRC strategy, signaling continued institutional accumulation.
Macro & Markets ·
MicroStrategy resumed Bitcoin accumulation this week after months of strategic selling, purchasing 4,603 BTC for roughly $369.7 million at an average price of $80,318. The company had previously sold 6,948 BTC between May and August at approximately $62,250 per coin to raise capital through a Digital Credit Capital Framework. The timing marks a shift in approach: equity financing through share issuance had become prohibitively expensive when the company's preferred stock trading vehicle, STRC, dipped below par value in June, prompting Bitcoin sales instead. Now that MSTR shares have recovered, the firm generated $602.8 million in net proceeds from selling roughly 4.5 million shares, deploying $369.7 million toward Bitcoin while also funding $151.8 million in STRC buybacks, $50.7 million in preferred dividends, and $30 million in cash reserves.
The move was not isolated. Several institutional holders, including Strive and other treasury companies, also stepped back into Bitcoin acquisition on the same day after largely sitting out or selling through the summer months, suggesting potential coordination around market conditions.
The strategic maneuver leaves MicroStrategy holding roughly 2,345 fewer Bitcoin than in spring despite the fresh purchases, and uncertainty remains whether this resumption signals a sustained buying pattern heading into the final quarter or represents a tactical one-week adjustment to financing conditions.