Strategy

Between September 21 and 27, Strategy bought 1,665 Bitcoin for around $142.7 million at an average price of $85,681 and now holds 847,666 Bitcoin (more than 4% of the maximum supply). The current market value of the reserve is about $70.6 billion; to date the company has invested around $64 billion including fees at an average cost basis of $75,437, resulting in a book gain of about $6.6 billion. The purchase was financed mainly by the sale of nearly 1.47 million class A shares (proceeds ~ $246.2 million); additionally, 1.53 million preferred shares were repurchased. Strategy still has substantial financing buffers: an ongoing share program with $18.84 billion of remaining issuance capacity, cash reserves of $1.0 billion and additional dollar-denominated reserves of $5.02 billion. » More on deraktionaer.de

Bitcoin surged to its highest level since January, lifting Strategy shares about 6% and boosting MARA and Riot by roughly 5% and 4%, respectively, with no company-specific announcements. Strategy leads the group because its balance sheet holds Bitcoin directly, while MARA and Riot provide exposure via mining operations subject to energy costs and production variance. Traders should watch whether the Bitcoin bid holds through the U.S. session, since a fade would most quickly pressure the treasury-backed Strategy and then the miners. » More on finance.yahoo.com

Strategy's stock dropped about 4.7% to $130.52 after the company, for the second consecutive time between Sept. 8 and 13, reported no Bitcoin purchases and instead used $139.3 million to repurchase variable-rate preferred shares. Since July 20, roughly $950.8 million has gone into preferred buybacks — more than 2.5 times what was invested in Bitcoin over the same period. Optimism from Barclays could not offset concerns about the shift away from Bitcoin accumulation; additionally, a possible removal from MSCI indexes and uncertainty around the vote on the CLARITY Act weigh on the stock. Overall, capital allocation, regulatory risks, and a weak broader market have pushed the stock well below the last closing price. » More on de.investing.com