Strategy Adds 1,036 Bitcoin for $82 Million, Hits 850,364 BTC Total

Strategy has purchased another 1,036 Bitcoin for approximately $81.9 million, taking its total holdings above 850,000 BTC for the first time. The latest acquisition comes as Europe's largest asset manager, Amundi, increases its investment in Strategy by 43.7%, adding another institutional dimension to the company's Bitcoin strategy.

According to a November 9 8-K filing with the US Securities and Exchange Commission (SEC), Strategy acquired the Bitcoin between November 2 and November 8 at an average price of $79,012 per coin.

The purchase brings Strategy's total holdings to 850,364 BTC, acquired for approximately $64.16 billion at an average cost of $75,456 per Bitcoin. The company's holdings now represent more than 4% of Bitcoin's maximum supply of 21 million coins.

Strategy Funds Bitcoin Purchase Through MSTR Share Sales

Strategy financed its latest Bitcoin acquisition by selling shares of its Class A common stock through its at-the-market (ATM) offering program.

During the reporting period, the company sold 2,051,348 MSTR shares, generating approximately $283.8 million in net proceeds.

However, not all the money went toward Bitcoin purchases.

Strategy allocated $81.9 million to acquire Bitcoin, while $188.3 million went toward repurchasing 1,887,464 shares of its STRC preferred stock. The remaining $13.6 million was added to its USD Cash balance.

The preferred-share repurchase was therefore more than twice the amount spent on Bitcoin during the same period.

Strategy also used $21.1 million from its USD Reserve to pay preferred-stock dividends. As of November 8, the company held approximately $4.77 billion in its USD Reserve and another $146.2 million in USD Cash, bringing its combined dollar assets to roughly $4.92 billion.

The latest purchase follows Strategy's November 2 acquisition of 811 BTC for $65.5 million. As Altcoin Buzz previously reported in its coverage of Strategy's earlier Bitcoin purchase, the company has continued using stock-market financing to expand its Bitcoin treasury.

Strategy's Bitcoin Holdings Move Below Average Acquisition Cost

Despite increasing its Bitcoin holdings, Strategy faces a narrower margin between its average acquisition price and the market price.

The company's blended acquisition cost now stands at $75,456 per BTC. Bitcoin was trading around $74,876 in the market snapshot reported on November 9, placing the holdings slightly below their aggregate purchase cost.

At that price, Strategy's Bitcoin treasury would be worth approximately $63.67 billion, compared with its $64.16 billion acquisition cost. This represents an estimated unrealized loss of around $493 million.

The figure changes with Bitcoin's market price, and an unrealized loss does not mean the company has sold its holdings at a loss.

Strategy continues to position Bitcoin as its primary treasury reserve asset. Its latest filing also shows that it maintains substantial dollar reserves to support preferred dividends and interest payments.

Amundi Increases its Strategy Investment by 43.7%

Strategy is also attracting increased exposure from a major traditional asset manager.

Amundi, Europe's largest asset manager, added 584,053 Strategy shares worth approximately $72.3 million, increasing its position by 43.7%.

Following the purchase, Amundi held approximately 1.92 million MSTR shares valued at $238.3 million, according to the latest position disclosure.

The increase follows an earlier disclosure in August, when Amundi held approximately 1.32 million shares.

Amundi's investment provides exposure to Strategy through publicly traded equity rather than direct Bitcoin ownership. However, holding MSTR shares also exposes investors to the company's financing decisions, capital structure and stock-price volatility.

The disclosure does not establish why Amundi increased its position or whether it intends to continue buying.

What Strategy's Latest Purchase Means for Bitcoin

Strategy's latest acquisition reinforces its position as the largest publicly traded corporate Bitcoin holder. Crossing 850,000 BTC is a significant milestone, particularly as the company continues accumulating while Bitcoin trades near its average acquisition cost.

However, the latest filing also highlights how its treasury strategy depends on capital-market activity. Selling common stock can provide funds for additional Bitcoin purchases, but it also increases the number of shares outstanding and can dilute existing shareholders.

For investors, the balance between Bitcoin accumulation, preferred-stock repurchases and available dollar reserves will remain important.

Amundi's increased MSTR position adds another institutional development to watch. The next key indicator will be whether Strategy continues its weekly Bitcoin purchases and how its financing decisions evolve as market prices move around its average acquisition cost.