Key Insights:
- MSTR stock price rose 2% as Strategy reported a 267-BTC purchase.
- Strategy repurchased 1.94 million STRC shares for $193.1 million.
- Bitcoin rose 1.3% in 24 hours but remained down over seven and 14 days.
Strategy (MSTR) stock price rose more than 2% on Monday as Bitcoin moved above $82,000. This comes after the firm reported a 267 Bitcoin purchase and expanded its digital credit securities repurchase authorization to $3 billion.
Strategy bought the coins between October 12 and 18, paying an average of $82,900 per bitcoin. The purchase cost $22.1 million and lifted the company’s reported holdings to 848,517 BTC.
Meanwhile, the one-day MSTR stock price chart showed shares at $140.03, up from the previous close of $136.83. The session range ran from roughly $138.50 to $140.70.
MSTR stock price dipped early, then recovered and moved above $140, and stayed near that level as trading continued. Volume was heavier early as the MSTR stock price moved higher, then eased.
MSTR Stock Price Trades Near $140
The chart places $140 near the stock’s current intraday pivot. It also shows resistance around $140.50 to $141. On the downside, $139 and the session low near $138.50 mark visible support areas for MSTR stock price.
The one-day chart shows the intraday range of MSTR stock price but does not confirm sustained direction. The reported gain followed Strategy’s latest Bitcoin purchase and preferred-share repurchases.
Strategy repurchased 1.94 million STRC shares for $193.1 million. It raised the total authorization for digital credit securities repurchases from $2 billion to $3 billion. The company had $1.16 billion remaining under the authorization.
Strategy funded the Bitcoin purchase mainly through about $22 million in MSTR share sales, its latest press-release showed. That amount was close to the reported $22.1 million purchase cost. The company’s figures covered the week ending October 18.
Michael Saylor signaled the purchase in a social media post suggesting room for additional Bitcoin. Later, he congratulated Strive on its Bitcoin accumulation. Those posts preceded Strategy’s disclosure of its latest holdings and repurchase figures.
Strategy and Strive Report Bitcoin Purchases
Separately, Strive acquired 1,223 BTC during the week, gaining investors’ attention. The company paid an average of $81,734 per bitcoin, bringing its reported holdings to 36,818 BTC.
Strive also said proceeds from its SATS initial public offering would settle Tuesday. It plans to maintain its current 18-month dividend reserve. The company’s traditional warrants have expired.
The companies reported purchases across overlapping periods. Strategy’s disclosure covered October 12 through 18, while Strive reported acquisitions from Wednesday through Friday.
Strategy in Focus Amid MSCI Rules and Bitcoin Market Levels
The stock update came days after MSCI adopted new rules for companies it classifies as non-operating businesses. The framework takes effect at the close of November 30. It does not remove Strategy from MSCI benchmarks immediately.
However, MSCI’s financial tests could make Strategy ineligible for its global equity indexes. Bloomberg reported that the change could trigger billions of dollars in stock sales. It could also add pressure to the financing model behind Strategy’s Bitcoin holdings.
Bitcoin gained 1.3% over 24 hours to $82,132.97, according to CoinGecko. The crypto traded between $80,671.58 and $83,035.40 during that period.
CoinGecko’s chart showed an overnight drop toward the session low, followed by a sharp recovery above $81,500. Bitcoin then approached $83,000 before pulling back. It later recovered to around $82,100 near the end of the period.
The chart marked $83,000 as near-term resistance. It showed $81,000 and the session low near $80,700 as support areas. Despite the daily gain, Bitcoin remained down 0.9% over seven days and 4.9% over 14 days.
In other news, Strategy founder Michael Saylor has suggested a Bitcoin-backed stablecoin that would maintain its dollar value and offer a 7% yield.
