Strategy (NASDAQ:MSTR) bought 267 Bitcoin (CRYPTO: BTC) for $22.1 million last week, extending its buying streak even as the stock battles fresh pressure from MSCI index risk.
Strategy disclosed in a Monday filing that it purchased the Bitcoin between Oct. 12 and Oct. 18 at an average price of $82,900 per coin.
The company funded nearly the entire buy by selling 140,872 MSTR shares through its at-the-market program, covering the remaining $100,000 from cash on hand.
Total holdings now stand at 848,517 BTC, acquired for roughly $64.02 billion at an average price of $75,446 per coin.
Strategy spent far more on preferred stock than Bitcoin last week, using $193.1 million to repurchase 1.94 million shares of its STRC preferred stock.
The board also raised the digital credit securities repurchase program from $2 billion to $3 billion, leaving $1.16 billion available after completed buybacks.
As of Oct. 18, Strategy held $4.83 billion in its US dollar reserve and $447.3 million in additional cash, after using $45.5 million from the reserve to pay preferred-stock dividends.
Saylor’s Weekend Posts Keep Teasing the Buys
Strategy Executive Chairman Michael Saylor posted on X Sunday that “we found room for more orange,” echoing a near-identical post from the Sunday before, “there’s always room for more orange,” which also preceded that week’s purchase announcement.
As Benzinga reported, Strategy bought 250 BTC for $21.5 million the prior week, meaning Saylor’s weekend posts have now preceded two straight Monday purchase disclosures.
Where MSTR Stands Technically After MSCI Pressure
MSTR fell 9.5% last Friday after MSCI approved rules that could exclude Strategy from its indexes, raising concerns about forced selling from passive funds tracking those benchmarks.
The stock rebounded 2% in Monday’s premarket trading, putting it just above its 50-day EMA at $139.50, though it remains below its 20-day and 200-day EMAs at $149.71 and $152.83.
Those levels form the next resistance zone after repeated rejections at the stock’s descending trendline.
Key levels for MSTR:
- $135: 100-day EMA, immediate support
- $130: potential downside target if $134 fails
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