Strategy Buys $65.5 Million in Bitcoin as Michael Saylor Predicts Return to Six Figures

Strategy has resumed Bitcoin purchases, adding 811 BTC for $65.5 million as Michael Saylor maintains his forecast of six-figure prices. The company disclosed the purchase on Monday, November 2, after taking a break from buying the previous week.

Strategy Adds 811 Bitcoin After One-Week Pause

Between October 26 and November 1, Strategy purchased the BTC at an average price of $80,846 per bitcoin. The acquisition brought the company’s total BTC holdings to 849,327, worth approximately $65.9 billion, per its SEC filing. The company has spent $64.08 billion to establish that position, paying an average of $75,451 per coin.

The latest acquisition occurred a week after Strategy had no Bitcoin purchase, instead repurchasing preferred shares. Earlier in October, the company had purchased 267 BTC for $22.1 million. On Sunday, Saylor teased another acquisition, posting his Bitcoin tracker with a caption that read: “We found room for even more orange.”

The latest transaction was financed by sales of 1,178,552 MSTR shares, which brought in approximately $164 million in capital through Strategy’s stock offering program. Of that amount, $65.5 million went toward Bitcoin purchases, while $98.5 million was allocated to its USD Cash account.

Strategy Repurchases Preferred Shares Following Q3 Profit

During the week, Strategy also purchased 2,092,035 STRC preferred shares for $208.2 million, in addition to the Bitcoin acquisition. The company used USD cash of $132.7 million on November 1 to finance those transactions.

After paying a preferred stock dividend of $43.4 million, its USD reserve totaled $4.79 billion. The company’s combined dollar assets were enough to cover its dividend and interest payments for about 3.3 years, Strategy said.

The update comes after Strategy posted third-quarter earnings on Oct. 29 with net income of $19.53 billion. Those figures were boosted by a $20.91 billion increase in digital assets revenue, while software revenue fell 3% to $125.4 million. However, Strategy also recently reported on a 3.7% negative Bitcoin yield YTD, despite the BTC purchases.

Saylor expects Bitcoin to Return Above $100,000

Saylor has maintained that Bitcoin could recover above $100,000 despite recent market weakness. In an October interview, he described the market as entering another bullish phase but did not promise a year-end recovery.

His comments followed an earlier Bitcoin price forecast that linked potential gains to institutional demand and wider banking adoption. During Strategy’s earnings announcement, Saylor again described the market as being at the beginning of a bull run.

Meanwhile, MSTR shares closed Friday at $130.51 after falling 9.6% during the week, while Bitcoin declined 3.6%. The stock later rose to $133 in Monday’s premarket trading, a gain of 1.91% from Friday’s close.