Strategy (NASDAQ:MSTR) bought 334 Bitcoin (CRYPTO: BTC) last week, while smaller rival Strive (NASDAQ:ASST) bought six times as much.
What Strategy’s Filing Shows
According to a Monday 8-K filing, Strategy bought 334 Bitcoin for $28.7 million between Oct. 1 and Oct. 4 at an average of $85,839 per coin.
It sold 92,894 MSTR shares to raise $15.7 million and covered the rest with $13 million in cash. Total holdings now stand at 848,000 BTC, bought for $63.97 billion at an average of $75,441.
Strategy also repurchased 1.77 million STRC preferred shares for $176.3 million between Sept. 28 and Oct. 4, using $154.1 million in cash and $22.2 million in interest income.
It ended the period with a $4.88 billion dollar reserve and $833.4 million in additional cash.
Strategy’s Third-Quarter Estimates
The company estimated these third-quarter figures:
- Digital-asset gain: $20.91 billion
- Carrying value of holdings: $70.82 billion
- Deferred tax expense: $1.88 billion
How Strive Outbought Its Bigger Rival
Strive disclosed a larger purchase the same morning, buying 2,000 BTC between Sept. 28 and Oct. 2 at an average of $84,422, about $169 million.
That lifts its holdings to 29,462 BTC. CEO Matt Cole said 61.5% of the money came from SATA, Strive’s own preferred stock.
Strive also holds 505,000 STRC shares worth $50.2 million, the same preferred stock Strategy is buying back.
As Benzinga reported, Michael Saylor wrote last week that he wants Strive to succeed.
Why MSTR Swings Harder Than Bitcoin
Strategy’s charts of 30-day historical volatility, which measures how sharply a price moved over the past month, show a wide gap between its assets as of the Oct. 2 close.
Strategy registered 94%, exactly double Meta’s 47% and more than twice Bitcoin’s 39%.
Here is how the other assets compare:
- Meta: 47%
- Tesla: 43%
- Bitcoin: 39%
- STRC (NASDAQ:STRC): 9%, below the SPDR S&P 500 ETF (NYSE:SPY) at 10%
STRC stays calm because it pays a 12% annual dividend, reset monthly to keep its price near par, according to Strategy’s website.
Saylor called that low volatility a milestone for what he calls Digital Credit, saying Strategy is harnessing Bitcoin’s power while cutting price swings for income investors.
Where MSTR Stands Technically
MSTR closed last week at $160.01, with Monday premarket near $162.91, up about 2%.
The stock sits above its 20-day and 100-day EMAs but remains capped just under the 200-day EMA at $152.89, the key trend-reversal line.
- Resistance: $170
- Support: $156, then $148 (20-day EMA)
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