Strategy Inc. shares paused after rising about 33% from the September 16 close, as Bitcoin’s rebound cooled and investors assessed the company’s latest treasury update. The company bought 950 Bitcoin between September 14 and September 20 for $75.7 million, using USD Cash rather than issuing common stock, lifting its holdings to 846,000 Bitcoin acquired for $63.80 billion at an average cost of $75,416 per coin. Strategy also repurchased 1,771,238 shares of its variable-rate STRC preferred stock for $174 million and paid $57.4 million in preferred dividends and interest. Its combined USD Cash and USD Reserve stood at $6.09 billion as of September 20. MSTR remains closely linked to Bitcoin, its mNAV multiple (market value relative to Bitcoin holdings), preferred-stock pricing and financing conditions, leaving the stock’s next move dependent largely on Bitcoin and further treasury-program updates.