Bitcoin Strategy (formerly MicroStrategy) hedge fund bought an additional 130 BTC worth about $11.7 million, at an Medium price of $89,960 per BTC , during the period of November 17–30, according to an 8-K filing with the SEC on Monday.
With this deal , Strategy now holds a total of 650,000 BTC – worth about $56 billion – purchased at an Medium price of $74,436/ BTC, for a total cost of about $48.4 billion (including fees). This holding is equivalent to more than 3% of the total supply of 21 million BTC, and despite the recent market downturn, Strategy is still making an estimated profit of about $7.6 billion.
The additional BTC purchases were funded by the sale of MSTR common stock under the at-the-market program. Over the past two weeks, Strategy has sold 8,214,000 MSTR shares, raising approximately $1.48 billion. As of November 30, the company had $13.37 billion worth of MSTR shares available for sale under this program. No preferred shares were sold during the period, and $30.2 billion of unused capacity remained.
In parallel, Strategy announced the establishment of a USD reserve fund worth 1.44 billion USD to pay dividends on preferred shares and interest on existing debts – this source of money also comes from the sale of MSTR shares.
Strategy said it aims to maintain reserves sufficient to cover at least 12 months of dividend expenses and will gradually increase to cover 24 months or more, depending on market conditions and liquidation needs.
Last week, Strategy appeared to pause its weekly BTC buying cycle as it did not disclose any new transactions, remaining at 649,870 BTC. However, based on the November 17–30 date range in the new filing, the specific timing of the transactions was not made clear. A week earlier, the firm purchased 8,178 BTC worth $835.6 million, its largest purchase since July.
Instead of his usual BTC buying suggestion, Saylor posted Strategy’s BTC tracking chart with the caption: “Going for some more green?” – implying new USD reserves.
“Establishing a USD reserve alongside our BTC reserve is the next step, allowing us to be more proactive in dealing with short-term volatility and move closer to our goal of becoming the world’s leading Digital Credit issuer,” Saylor said.
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