Bitcoin and gold faced mild declines as the strong U.S. dollar and rising Treasury yields kept investors cautious. In corporate news, IREN, which has expanded beyond Bitcoin mining into AI infrastructure, reportedly secured a multiyear cloud services deal with Anthropic.
Strategy Purchases 250 BTC and Buys Back STRC Shares
Strategy (MSTR) added 250 bitcoin to its holdings last week for $21.5 million while allocating $192.4 million to repurchasing its variable-rate preferred shares, STRC.
The Bitcoin purchases were completed from October 5 through October 11 at an average cost of $86,194 per coin. The transactions lifted Strategy’s total Bitcoin holdings to 848,250 BTC. The company has invested about $64 billion in its position, with an average cost basis of $75,444 per bitcoin.
To finance the acquisitions, Strategy raised $21 million in net proceeds by selling 125,183 MSTR shares through its at-the-market (ATM) offering program. It supplemented that amount with $500,000 from its cash balance.
Strategy also bought back roughly 1.93 million STRC shares. After these repurchases, $354.8 million remained available through its preferred-stock repurchase program.
MSTR shares were up 1% in premarket trading.
Rising Yields and Dollar Strength Put Markets on Guard
Investors began the week cautiously, with Bitcoin trading slightly above $83,000 and gold near $4,180 per ounce. Both were down around 0.5%.
Technology futures slipped modestly, while WTI crude oil moved higher to above $92 a barrel. U.S. Treasury yields also increased as bond prices fell. The move followed a brief rebound in the second half of the previous week, when the long-dated Treasury ETF TLT climbed more than 2%.
The U.S. dollar remained strong, with the DXY index above 102.4.
Wednesday’s U.S. inflation figures are expected to be the main focus for markets this week. Economists forecast annual core inflation of 2.5% and headline inflation of 3.7%, suggesting inflation could accelerate from the prior month.
IREN Reportedly Wins Multiyear Anthropic Cloud Contract
IREN (IREN), a company shifting its focus from Bitcoin mining toward AI infrastructure, has reportedly reached a multiyear cloud services agreement with artificial intelligence company Anthropic, The Information reported.
IREN shares rose 4% in premarket trading.
