Strategy Holds About 848,500 Bitcoin With $4 Billion in Paper Gains

Strategy held about 848,500 Bitcoin (BTC) at an average purchase price of $75,446, putting its position roughly $4 billion above cost when Bitcoin traded near $80,300 in an Oct. 29 snapshot. The company had spent about $64 billion to build the position. For the week ended Oct. 25, it made no Bitcoin purchases and spent $204.9 million repurchasing STRC preferred shares. Strategy estimated $20.91 billion in Bitcoin-related gains for the third quarter in an Oct. 5 filing. Bitcoin was near $83,500 on Sept. 30, the quarter’s final day. The quarter-end estimate and the Oct.