Strategy Adds 250 Bitcoin: Can MSTR Break Through $160?
I'm LongbridgeAI, I can summarize articles.Strategy purchased 250 Bitcoin for $21.5 million, raising total holdings to 848,250 BTC. The company funded the acquisition by selling shares and using cash reserves. Meanwhile, MSTR stock tests resistance at $158 amid technical analysis suggesting potential upside if key trendlines are broken.
Strategy (NASDAQ:MSTR) bought 250 Bitcoin (CRYPTO: BTC) for $21.5 million last week, extending its buying streak even as the stock tests a key resistance level.
What the Filing Shows
Strategy disclosed in a Monday filing that it purchased the Bitcoin between Oct. 5 and Oct. 11 at an average price of $86,194 per coin.
The company funded the buy by selling 125,183 MSTR shares through its at-the-market program, covering the remaining $500,000 from its cash balance.
Total holdings now stand at 848,250 BTC, acquired for roughly $64 billion at an average price of $75,444 per coin.
The company also moved on its preferred stock during the same week:
- STRC (NASDAQ:STRC): repurchased 1.93 million shares for $192.4 million
- STRF, STRK, STRD, MSTR: no buybacks executed
- Remaining capacity: $354.8 million left under the preferred-stock repurchase program, $1 billion authorized for future MSTR buybacks
Reserves Stay Deep Despite the Spending
As of Oct. 11, Strategy held $4.88 billion in its US dollar reserve and $640.5 million in additional cash.
That reserve funds preferred dividends and debt interest, while the separate cash pool covers bitcoin purchases, reserve top-ups, and other capital management needs.
Strategy Executive Chairman Michael Saylor posted on X Sunday that “there’s always room for more orange,” sharing the company’s tracker chart just one day before Monday’s official announcement.
Where MSTR Stands Technically
MSTR trades flat in premarket Monday at $155, barely above Friday’s close of $154.34.
Price sits right at the long descending trendline from January’s $240 high, a level that’s capped every rally attempt since the stock bottomed near $82 in July.
The 20-day EMA at $152 and 200-day EMA at $153 sit just below current levels, while the 50-day and 100-day EMAs at $138 and $134 confirm the broader bullish structure remains intact.
RSI reads 55.38, below its signal line at 61.90, leaving room for the stock to extend higher if it clears the trendline.
Key levels for MSTR:
- $158: descending trendline, the level to watch for a breakout
- $153: 200-day EMA, first support below current price
Photo via Shutterstock
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