Strategy buys 8,178 bitcoins for $835.6m

Strategy has purchased 8,178 more bitcoins for US$835.6 million, at an average price of US$102,200 per bitcoin.

The US-based business intelligence firm now holds 649,870 bitcoins, acquired for a total of US$48.4 billion at an average cost of US$74,400 each.

The recent purchase was mainly funded through about US$715 million raised from a preferred share offering in Europe, and US$131.4 million from another preferred share series.

Strategy had been making smaller bitcoin buys in recent months, as the company’s stock price has dropped 56% over the past four months, limiting its ability to raise funds through common share offerings.

🔗 Source: CoinDesk

🧠 Food for thought

Implications, context, and why it matters.

Preferred payouts stack up without bitcoin gains

Strategy Inc. issued 10% Series A Stream (STRE) with cash-only quarterly dividends and 8% Series A Strike (STRK) that pays in cash or common stock 1 2. Missed STRE payments compound each quarter, start at 11%, and step up 1% per quarter to 18% until paid 1. After a deferral notice, the company has 60 days to try to sell junior securities to fund the next deferred dividend, subject to senior stock terms 1.
Bitcoin at $94,500 versus MicroStrategy’s $74,400 average cost creates paper gains, yet STRE cash payouts add a fixed burden 1. Enterprise value now barely tops the value of the bitcoin holdings, which leaves little equity cushion if prices stall.

Treasury software can focus on mid-market chief financial officers (CFOs) weighing bitcoin under the Financial Accounting Standards Board’s (FASB) 2025 fair-value rules

The Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2023-08 takes effect for fiscal years starting after December 15, 2024 and moves crypto assets to fair value with changes in net income, replacing impairment-only accounting 3 4.
Companies can now record gains without selling, which gives investors a clearer read on treasury choices 3.
Finance teams need fair‑value measurement per Accounting Standards Codification (ASC) Topic 820, plus interim and annual disclosure of holdings by type 5 6.
Rollforwards of gains or losses plus controls for crypto custody with key management that safeguards cryptographic private keys are required 5 6.
Vendors that bundle accounting, custody verification, or disclosure automation can win mid‑market CFOs weighing bitcoin allocations.