Strategy bought 250 BTC for $21.5 million last week and spent $192.4 million repurchasing shares of its STRC preferred stock, the company said in its weekly disclosure on Monday, October 13.

The Bitcoin treasury firm paid an average of $86,194 per coin, including fees, for purchases made between October 5 and October 11. The acquisition brings Strategy's total holdings to 848,250 BTC — a new record — acquired for an aggregate $64 billion at an average price of $75,444 per coin.

How did Strategy fund the purchase?

The company raised roughly $21 million by selling approximately 125,000 shares of MSTR common stock through its at-the-market offering program, according to the release. It covered the remaining $500,000 of the Bitcoin purchase with cash. Strategy sold none of its preferred stock during the week.

Alongside the Bitcoin accumulation, Strategy repurchased 1,932,145 shares of STRC, its variable-rate Stretch preferred stock, for $192.4 million. The buyback leaves $354.8 million available under the program authorized for additional preferred-share repurchases.

The week's activity continues a pattern. The prior week, Strategy bought $29 million in Bitcoin and repurchased $176 million of STRC while posting a $21 billion third-quarter gain.

What do the dollar reserves look like?

As of October 11, Strategy held $4.88 billion in a U.S. dollar reserve designated for preferred dividends and debt interest. A separate pool of $640.5 million in cash is available for broader purposes, including Bitcoin purchases.

The firm initially established its USD reserve with $1.44 billion. It later created the separate cash pot after raising $2 billion through sales of MSTR stock.

Strategy has also proposed that its preferred stock dividends accrue 365 days a year. Under its digital credit capital framework, the company has said it could sell up to $1.25 billion of Bitcoin.

CEO Phong Le defended selling Bitcoin as the "right trade" in September — weeks before the firm set its previous holdings record at the end of that month with a $143 million purchase.

Despite the renewed buying, traders on the prediction market Myriad, owned by Decrypt's parent company Dastan, see limited odds of rapid escalation: they put just a 5% chance on Strategy's holdings exceeding one million BTC by the end of the year.

With $354.8 million still authorized for STRC buybacks and its ATM program actively feeding Bitcoin purchases, the coming weekly disclosures will show whether the firm sustains this dual pace of accumulation and preferred-share retirement through the fourth quarter.