Strategy buys 250 Bitcoin for $21.5 million, repurchases $192 million in preferred shares

Strategy acquired 250 Bitcoin for $21.5 million between October 5 and October 11, 2026, bringing its total holdings to a record 848,250 BTC worth over $64 billion. However, the firm directed nearly nine times as much capital—$192.4 million—toward repurchasing 1.93 million shares of its STRC preferred stock at a discount below par value. Strategy funded the operations through MSTR stock sales and cash, maintaining over $5.5 billion in total USD reserves.

Bitcoin purchases and total holdings

• ▪Strategy, Inc. acquired 250 Bitcoin for $21.5 million at an average price of $86,194 per coin between October 5 and October 11, 2026, using $21 million from common stock sales and $500,000 in USD Cash
• ▪Strategy's total Bitcoin holdings reached 848,250 BTC as of October 11, 2026, purchased for $64 billion at an average price of $75,444 per token
• ▪Strategy's purchase of 250 Bitcoin between October 5 and October 11, 2026 marked Strategy's second consecutive weekly drop in Bitcoin acquisitions, down from 1,665 BTC two weeks prior and 334 BTC the following week

Preferred stock repurchases

• ▪Strategy repurchased 1,932,145 shares of its STRC preferred stock for $192.4 million at an average price of $99.69 per share between October 5 and October 11, 2026
• ▪Strategy's STRC preferred stock repurchases of $192.4 million during the week ending October 11, 2026 were nearly nine times higher than its $21.5 million Bitcoin purchase during the same period
• ▪Strategy president Phong Le stated that repurchasing STRC preferred shares below their $100 par value reduces future dividend obligations at a discount while aiming for low price volatility

At-the-market stock offering activity

• ▪Strategy, Inc. sold zero preferred shares under its at-the-market programs during the week between October 5 and October 11, 2026
• ▪Strategy, Inc. raised $21 million by selling 125,183 shares of its MSTR Class A common stock through its at-the-market offering program between October 5 and October 11, 2026

Remaining issuance and buyback capacity

• ▪Strategy, Inc. retains $354.8 million in buyback capacity under its digital credit securities repurchase program, which was expanded to $2 billion in September 2026
• ▪Strategy, Inc. retains $18.8 billion in common stock issuance capacity under its MSTR at-the-market equity offering program, alongside an untouched $1.0 billion common stock repurchase authorization as of October 11, 2026

Cash and reserve balances

• ▪Strategy, Inc. held $640.5 million in its separate USD Cash account as of October 11, 2026, which is allocated for Bitcoin purchases and general operational uses
• ▪Strategy, Inc. held $4.88 billion in its USD Reserve set aside for preferred dividends and debt interest as of October 11, 2026

Proposed switch to daily dividends

• ▪Strategy shareholders are scheduled to vote on October 28, 2026 on a proposal to transition STRC and other preferred securities to daily dividend payments
• ▪If approved by shareholders, Strategy's STRC preferred stock would set its first daily dividend record date on November 1, 2026 and its first payment on November 2, 2026

Debatable claims

• ▪Shareholder dilution from stock sales to buy Bitcoin does more harm than good
• ▪Strategy's declining weekly Bitcoin purchases reflect diminishing capacity to raise capital