Strategy Buys 1,665 Bitcoin, Holdings Near…

Strategy, the software firm formerly known as MicroStrategy, disclosed on September 28, 2026 that it had acquired about 1,665 Bitcoin for $142.7 million, lifting its total holdings to roughly 847,666 BTC, according to TechTimes’ summary of the company’s filing.

Background: Strategy’s treasury model

Strategy, the enterprise-software company led by Michael Saylor that rebranded from MicroStrategy, began buying Bitcoin as a primary treasury reserve asset in August 2020. Since then it has deployed about $63.95 billion into the asset, according to TechTimes’ summary of the latest filing, building the largest corporate Bitcoin position of any public company. The firm finances its accumulation chiefly by issuing securities — at-the-market sales of MSTR common stock and several preferred-share series — rather than spending operating cash, a structure that converts equity- and credit-market demand into Bitcoin on its balance sheet. Its roughly 847,666 BTC represent more than 4% of Bitcoin’s capped 21 million supply, TechTimes noted, making the company’s periodic disclosures a closely tracked gauge of corporate conviction.

What did Strategy buy and at what price?

The company bought the Bitcoin during the week of September 21-27, 2026 at an average price of about $85,681 per coin, TechTimes reported. That brought its all-in average cost basis to roughly $75,437 per Bitcoin across the approximately $63.95 billion it has deployed since beginning its treasury program in August 2020. The purchase extends one of the most closely watched corporate accumulation strategies in public markets.

Separate coverage from GuruFocus put the purchase marginally higher, at about 1,670 BTC and total holdings near 847,670. The small differences reflect rounding across reports; both sources agree on the roughly $142.7 million purchase size and holdings of about 847,6xx BTC.

How was the purchase funded?

Strategy funded the buy through its equity program. The firm sold about 1.47 million Class A common shares (MSTR) for net proceeds of $246.2 million, of which $142.7 million went toward Bitcoin, according to TechTimes. The approach — issuing stock to buy Bitcoin — has been the company’s signature financing mechanism, allowing it to add to holdings without drawing down operating cash. Since launching the treasury strategy in 2020, the firm has repeatedly tapped at-the-market share sales and several preferred-stock series to raise capital, a structure that converts equity-market demand into Bitcoin on its balance sheet. The sheer scale of the program — roughly $63.95 billion deployed to date — has made Strategy’s disclosures a closely followed gauge of institutional conviction in the asset.

What happened with the preferred shares?

In the same disclosure, Strategy said it used the remaining proceeds — about $103.5 million from the share sale plus roughly $48.1 million from its cash account — to repurchase about 1.53 million STRC (“Stretch”) preferred shares for $151.7 million, TechTimes reported. The company framed the week’s activity as a single share issuance that funded new Bitcoin while retiring preferred-stock obligations, leaving both reserve accounts slightly lower but intact.

Where does Strategy rank among corporate holders?

Strategy remains by far the largest corporate Bitcoin holder, with its roughly 847,666 BTC dwarfing other public-company treasuries. Japan’s Metaplanet, among the largest holders in Asia, held about 43,000 BTC as of late September 2026, illustrating the gap at the top of the corporate-holder table. At the September purchase price near $85,681, Strategy’s stack was worth well over $70 billion on paper, though its reported cost basis sits below recent market levels.

How does this fit Strategy’s 2026 pace?

The late-September purchase continued a steady, smaller-ticket buying cadence in 2026. Earlier in the month, reports said the firm added 950 BTC in the week to September 20 while repurchasing preferred stock, maintaining a rhythm of frequent modest additions rather than occasional large blocks. Across reports, the company has leaned on capital-markets issuance rather than operating cash to keep accumulating, a pattern it has maintained since 2020. The frequency of these disclosures, often filed on Mondays, has turned Strategy’s weekly updates into a recurring data point for traders tracking corporate demand for Bitcoin.

Why it matters

Strategy’s disclosures carry outsized weight because its holdings dwarf every other corporate treasury, so its buying pace is widely read as a barometer of corporate demand for Bitcoin. The latest purchase is also a window into how the model works: TechTimes reported the company executed a single common-equity issuance that simultaneously funded the $142.7 million Bitcoin buy, directed $103.5 million toward retiring preferred stock, and tapped reserve accounts for dividends and interest. Those mechanics matter because they tie the firm’s balance sheet tightly to both Bitcoin’s price and investor appetite for its securities — the company can keep accumulating only while markets absorb its stock and preferred issuance on workable terms. The blended cost basis of about $75,437 per coin sat below the late-September market price, leaving the position in the black on paper.

What should readers keep in mind?

Strategy’s purchases are financed largely through issuing equity and preferred stock, a model that ties the firm’s balance sheet closely to Bitcoin’s price and to investor appetite for its securities. The figures here are drawn from the company’s September 28 disclosure as reported by the cited outlets; this article is informational and is not investment advice or a recommendation on MSTR or Bitcoin. Because the strategy depends on continued access to equity and preferred-stock markets, the company’s buying pace can slow if demand for those securities softens or if its shares trade at a discount to the value of the Bitcoin they represent.

What to watch next

Strategy typically discloses its weekly Bitcoin activity in filings often released on Mondays, so the next updates are the most immediate data points for tracking whether the firm maintains its steady, smaller-ticket cadence — it added about 950 BTC in the week to September 20 and about 1,665 BTC the following week, per reporting. Investors also watch the premium or discount between MSTR’s share price and the value of the Bitcoin it holds, since the equity-issuance model depends on continued market access; GuruFocus framed its coverage around the stock’s valuation. The company’s quarterly results, which detail capital raised and deployed, are a further checkpoint. These are reporting cadences, not predictions of future purchases.