Strategy Buys 811 Bitcoin as STRC Buybacks Draw Triple the Cash

According to disclosures on November 2, Strategy acquired 811 Bitcoin (BTC) for roughly $65.5 million while simultaneously expending $208.2 million to buy back STRC preferred shares. This meant the firm directed more than three times the cash toward its preferred-share buyback compared to its newest Bitcoin investment.

This allocation strategy allows the company to keep adding to its BTC reserves while dedicating substantially greater financial resources to retiring preferred equity. Furthermore, proceeds from its most recent common-stock sale generated extra cash beyond the amount spent on purchasing Bitcoin.

Strategy’s Bitcoin Holdings Reach 849,327 BTC

The coins were purchased between October 26 and November 1 at an average price of $80,846 per token. This addition pushed total holdings to 849,327 BTC, acquired for roughly $64.1 billion at an average cost of $75,451 per Bitcoin.

While this latest buy price sat above the average cost of its overall stockpile, Strategy continued to build exposure. However, the significantly larger STRC transaction demonstrates that acquiring coins was only one component of the firm’s capital allocation strategy that week.

MSTR Share Sales Funded Bitcoin and Added Cash

Strategy brought in approximately $164 million in net proceeds by selling about 1.18 million MSTR common shares. It dedicated $65.5 million of this total to Bitcoin, leaving the remaining $98.5 million to bolster its USD Cash balance.

Consequently, the larger share of the common-stock proceeds remained in cash. By November 1, the enterprise maintained $132.7 million in USD Cash along with a separate US dollar reserve of $4.79 billion.

Therefore, the Bitcoin purchase relied entirely on MSTR common-stock sales, whereas the $208.2 million STRC repurchase functioned as a distinct capital-allocation choice involving preferred shares.

STRC Buybacks Were Already Outpacing Bitcoin Purchases

This recent spending followed roughly $664 million in STRC repurchases conducted between October 1 and October 25. Over that exact timeframe, Bitcoin acquisitions amounted to about $72 million.

Company policy prohibits new STRC issuances below the $100 mark. Because the preferred shares traded at $99.22 during premarket activity on November 2, that funding avenue stayed restricted while prices lingered under the threshold.

This dynamic plays a crucial role in ongoing accumulation: although Strategy leaned heavily on preferred issuance earlier in the year, its newest Bitcoin purchase instead tapped into common equity. The organization still retained roughly $18.6 billion of available capacity under its MSTR at-the-market program.

Financing Terms Will Shape Strategy’s Next Purchases

For the third quarter, Strategy posted net income of $19.5 billion, driven by a $20.9 billion operating gain linked to Bitcoin’s price appreciation over the period. Because this fair-value accounting gain was unrealized, it did not provide actual cash for fresh purchases.

Concurrently, preferred-share payment structures are evolving. Shareholders approved daily dividend accruals—covering weekends and holidays—for STRF, STRC, STRK, and STRD, with 99.3% of the votes cast in favor. Total dividend rates and obligations will stay the same.

Subject to regulatory filings and board approval, implementation is projected to launch in November 2026 for STRC and January 2027 for the remaining three securities.

Upcoming filings will reveal whether proceeds from common stock continue to fuel both cash accumulation and Bitcoin purchases, and if STRC will climb back to its issuance threshold. Strategy remains active in the BTC market, but preferred-share retirements and financing expenses stay central to the economics driving this accumulation.

FAQ

When did Strategy buy the 811 Bitcoin?

The purchases took place from October 26 through November 1, 2026. Strategy disclosed the transactions in its November 2 filing.

What was Strategy’s average purchase price per Bitcoin?

The latest batch cost an average of $80,846 per BTC. Across its full Bitcoin treasury, Strategy’s average acquisition cost was $75,451 per coin.

How did Strategy fund the latest Bitcoin purchase?

Proceeds from selling approximately 1.18 million MSTR common shares financed the acquisition. The sale raised about $164 million, with $98.5 million retained in USD Cash after the Bitcoin allocation.

How much STRC preferred stock did Strategy repurchase?

The latest disclosed repurchase totaled $208.2 million. It followed roughly $664 million spent buying back STRC from October 1 through October 25.

How much Bitcoin does Strategy hold after the acquisition?

Its treasury reached 849,327 BTC after the purchase. The company’s aggregate acquisition cost was approximately $64.1 billion.

What are the upcoming changes to preferred-share dividends?

Shareholders voted to implement daily dividend accruals—including weekends and holidays—for STRF, STRC, STRK, and STRD, though total obligations and rates remain unchanged.

This article is for information only and is not financial advice.