Strategy buys 1,665 bitcoin for $142.7 million, then adds 334 BTC to reach 848,000
Strategy bought 1,665 bitcoin for $142.7 million, then 334 more, lifting its treasury to exactly 848,000 BTC by Oct. 4.
Why it matters
Strategy has been funding bitcoin accumulation with common-stock sales rather than cash reserves, and Bitcoin.com News reported its USD Cash balance fell to $1 billion from $1.05 billion while the reserve covering preferred dividends and debt interest fell to $5.02 billion from $5.04 billion. The purchases themselves are routine treasury additions; the open question Arthur Hayes raised in a Bitcoin.com News interview, whether spot ETFs have removed the reason to hold MSTR, rests on his own account and no other outlet in this set tested it.
Where the sources disagree
Whether 3,568 BTC leaving Strategy-linked wallets meant a sale
3,568 BTC, about $297 million, leaving Strategy-labeled wallets
Bitcoin.com News
Normal movements within Fidelity Custody, no bitcoin sold
Bitcoin.com News
Lookonchain flagged the transfers and Whale Insider repeated the $297 million figure, and Arkham's Emmett Gallic said the coins were internal Fidelity Custody movements.
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
reported value (mstr shares sold)
$151.7 million
Bitcoin.com News
$246.2 million
Cointelegraph
Bitcoin.com News reports $151.7 million, Cointelegraph reports $246.2 million (38% apart).
reported value (saylor strategy)
$142.7 million
Cointelegraph
$297 million
Bitcoin.com News
Cointelegraph reports $142.7 million, Bitcoin.com News reports $297 million (52% apart).
reported value (average)
$75,416
Bitcoin.com News
$85,681
Cointelegraph
Bitcoin.com News reports $75,416, Cointelegraph reports $85,681 (12% apart).
Key facts
Strategy acquired 1,665 BTC for $142.7 million between Sept. 21 and Sept. 27 at an average $85,681 per coin, including fees and expenses.
1,665 BTCDisputed figureReported by Bitcoin.com News
The purchase lifted Strategy's holdings to 847,666 BTC at an average cost of $75,437 per bitcoin and a total cost of about $63.95 billion.
847,666 BTCDisputed figureReported by Bitcoin.com News
Strategy sold 1,469,165 MSTR common shares for $246.2 million in net proceeds, allocating $142.7 million to bitcoin and $103.5 million to STRC repurchases.
246,200,000 USDDisputed figureReported by Bitcoin.com News
Strategy repurchased 1,534,530 STRC preferred shares for $151.7 million, adding $48.1 million from existing cash.
151,700,000 USDDisputed figureReported by Bitcoin.com News
The previous week, between Sept. 14 and Sept. 20, Strategy bought 950 BTC for about $75.7 million at an average $79,670.
950 BTCReported by Bitcoin.com News
Between Oct. 1 and Oct. 4, Strategy bought 334 BTC for $28.7 million at an average $85,838.80, bringing holdings to exactly 848,000 BTC at a cost basis of about $63.97 billion.
334 BTCReported by Bitcoin.com News
Strategy funded that purchase with $15.7 million from the sale of 92,894 MSTR shares and $13 million from its US dollar cash balance.
15,700,000 USDReported by Bitcoin.com News
Arkham analyst Emmett Gallic said 3,568 BTC worth about $297 million seen leaving Strategy-labeled wallets across12 transfers were Fidelity Custody movements and not a sale.
3,568 BTCDisputed figureReported by Bitcoin.com News
What happened
Strategy disclosed in a Sept. 28 Form 8-K that it bought 1,665 bitcoin for $142.7 million between Sept. 21 and Sept. 27 at an average $85,681 per coin, taking its holdings to 847,666 BTC at an average cost of $75,437. Bitcoin.com News and Cointelegraph describe the same filing, in which 1,469,165 MSTR common shares were sold for $246.2 million in net proceeds, $142.7 million of that funding the bitcoin purchase and $103.5 million going to repurchases of the STRC preferred stock, alongside 1,534,530 STRC shares bought back for $151.7 million plus $48.1 million of existing cash. A later purchase added 334 BTC for $28.7 million at an average $85,838.80 between Oct. 1 and Oct. 4, lifting the treasury to exactly 848,000 BTC at a cost basis of about $63.97 billion, part-funded by $15.7 million from the sale of 92,894 MSTR shares and $13 million from cash. Reports differ on the average acquisition price, with Bitcoin.com News citing $75,437 for the 847,666 BTC position and $75,440.70 for the 848,000 BTC position, and both figures appear in that outlet's coverage. Michael Saylor's 'Even more orange' post on Sept. 27 and 'More orange than ever' post on Oct. 4 preceded the disclosures and were not themselves transactions. On Sept. 29, Arkham analyst Emmett Gallic said on X that 3,568 BTC that Lookonchain flagged leaving Strategy-labeled wallets over nine hours were Fidelity Custody transfers rather than sales, a clarification only Bitcoin.com News carried.
How the story developed
- First report
First report by Bitcoin.com News
Even More Orange: Saylor Teases Another Strategy Bitcoin Buy
- Independent corroboration
Independently corroborated by CryptoPotato
Saylor’s Strategy Buys Another 1,665 BTC in Second Consecutive Weekly Purchase
- Official statement
Strategy discloses 1,665 BTC purchase in Sept. 28 Form 8-K
Holdings rose to 847,666 BTC, funded by $246.2 million of MSTR share sales with $151.7 million of STRC repurchases.
- Update
Cointelegraph reports the same 8-K figures
Second outlet to carry the 1,665 BTC purchase, the $246.2 million share sale and the USD Cash balance falling to $1 billion.
- Correction
Arkham's Emmett Gallic says the 3,568 BTC outflow was not a sale
He described the 12 transfers over nine hours as normal movements within Fidelity Custody after Lookonchain and Whale Insider circulated the $297 million figure.
- Update
Strategy reaches 848,000 BTC with a 334 BTC purchase
The Oct. 1 to Oct. 4 buy cost $28.7 million at an average $85,838.80 and took the cost basis to about $63.97 billion; Saylor reported a roughly $21 billion third-quarter digital asset gain.
- Update
Arthur Hayes says Strategy no longer matters and backs a $1 million bitcoin
In a Bitcoin.com News interview he argued spot ETFs left investors cleaner options than MSTR, and said he watches ETF inflows, which added $241 million the prior week.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 27 Sept 2026, 14:14 UTC: Bitcoin.com News, official — 1 independent source, 1 reports
- 27 Sept 2026, 15:54 UTC: Bitcoin Insider — 2 independent sources, 2 reports
- 28 Sept 2026, 12:06 UTC: CryptoPotato — 3 independent sources, 4 reports
- 28 Sept 2026, 12:10 UTC: Crypto News Flash — 4 independent sources, 5 reports
- 28 Sept 2026, 12:38 UTC: Cointelegraph — 5 independent sources, 7 reports
- 28 Sept 2026, 12:38 UTC: CoinGape — 6 independent sources, 8 reports
- 28 Sept 2026, 12:45 UTC: Decrypt — 7 independent sources, 9 reports
- 28 Sept 2026, 15:05 UTC: Unchained — 8 independent sources, 10 reports
- 28 Sept 2026, 16:33 UTC: Bitcoin Magazine — 9 independent sources, 11 reports
- 28 Sept 2026, 17:08 UTC: Crypto.News — 10 independent sources, 12 reports
- 28 Sept 2026, 21:40 UTC: CryptoSlate — 11 independent sources, 14 reports
- 1 Oct 2026, 17:42 UTC: Protos — 12 independent sources, 24 reports
Affected entities
Also mentioned: Fidelity, Nasdaq, Binance, BlackRock, Donald Trump, Grayscale, Bitwise
Original sources
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