Strategy Adds 267 BTC in Third October Purchase, Spending Hits $73 Million

Strategy Bitcoin purchase — Strategy, the largest corporate holder of Bitcoin, has purchased another 267 BTC for approximately $22 million, marking its third acquisition this month and bringing its total October spending on the cryptocurrency to $73 million.

According to a Monday filing, the software company’s latest purchase was slightly larger than its previous weekly buy of 250 BTC for a similar amount. The new acquisition increases Strategy’s total Bitcoin holdings to 848,517 BTC, valued at approximately $69.5 billion at current prices.

The company, formerly known as MicroStrategy, has spent around $64 billion on Bitcoin since it began its accumulation strategy in August 2020. Investors often view its stock (NASDAQ: MSTR) as a proxy for Bitcoin exposure. The stock traded nearly 2% higher on Monday morning in New York, although it is down 17% over the past month.

Monday’s filing also revealed that Strategy repurchased $193.1 million of its STRC preferred stock. The company faces a potential headwind after Morgan Stanley Capital International (MSCI) moved forward with a proposal that could classify non-operating companies as ineligible for its global indexes, which might eventually lead to Strategy’s removal and reduced institutional investment.