Strategy (MSTR) Adds 811 Bitcoin, Strive (ASST) Follows Suit With 124 as Both Keep Stacking

Strategy, led by Michael Saylor, purchased 811 bitcoin between October 26 and November 1, spending approximately $65.5 million at an average price of $80,846 per coin. The acquisition brought the company's total Bitcoin holdings to 849,327 BTC, acquired for roughly $64.1 billion at an average of $75,451 per coin. The funding for this purchase came from selling 1.18 million shares of MSTR common stock for $164 million, with $65.5 million allocated to Bitcoin and $98.5 million kept as USD cash. Additionally, Strategy spent around $208 million buying back 2.1 million shares of its STRC preferred stock.

Quarterly Results

The purchase came shortly after Strategy reported its third-quarter results, showing net income of $19.5 billion, a significant increase from $2.79 billion in the same period last year. This growth was driven by a $20.9 billion operating gain attributed to rising Bitcoin prices during the quarter, though Saylor noted this is a paper gain under fair-value accounting, not cash. He described this as the beginning of the next Bitcoin bull market, pointing to Bitcoin trading about 21% above its 200-week moving average.