MSTR Stock Forecast: Strategy Starts October With $28.7M Bitcoin Buy

The company said in its latest Form 8-K that it bought the coins between Oct. 1 and Oct. 4 at an average price of $85,838.80 per $BTC, including fees and expenses. The acquisition raised Strategy’s holdings to exactly 848,000 $BTC, purchased for about $63.97 billion at an average cost of $75,440.70 per coin.

The latest purchase follows two September additions: 950 $BTC for $75.7 million and then 1,665 $BTC for $142.7 million. That makes three consecutive reported buying periods and marks a clear return to accumulation after Strategy spent parts of the summer selling Bitcoin and prioritizing cash and preferred-stock repurchases.

Strategy Is Buying Above Its Cost Basis

The latest lot stands out because Strategy paid nearly $10,400 more per Bitcoin than its overall average acquisition price.

That means the company is not simply buying dips below cost. It is continuing to add even with $BTC trading materially above the roughly $75,441 average embedded in the full treasury.

That shift follows a summer in which the company’s treasury strategy became more flexible, allowing capital to move between Bitcoin, cash reserves, preferred-stock obligations and buybacks.

MSTR Sales and Cash Funded the Buy

The financing mix is also notable.

Strategy sold 92,894 MSTR shares between Oct. 1 and Oct. 4, generating $15.7 million in net proceeds. The filing says that entire amount was used for Bitcoin purchases, while another $13 million came from the company’s USD Cash balance.

At the same time, Strategy continued repurchasing STRC preferred stock, spending $73.7 million on 740,634 shares over the same period. Its capital allocation therefore remains broader than the older model of issuing equity solely to buy more $BTC.

That evolution was already visible in September, when Strategy temporarily skipped Bitcoin and directed cash toward STRC instead.

The company also reported an estimated $20.91 billion Q3 gain on digital assets, with its Bitcoin carrying value at $70.82 billion as of Sept. 30.