Strategy Buys 811 Bitcoin as STRC Buybacks Draw Triple the Cash

Disclosures from November 2 reveal that Strategy purchased 811 Bitcoin (BTC) for approximately $65.5 million while simultaneously allocating $208.2 million to repurchase STRC preferred shares. The company funneled more than three times the cash into buying back its preferred equity than it spent on its most recent Bitcoin addition.

This financial distribution allows Strategy to keep growing its BTC stash while placing significantly greater emphasis on retiring preferred stock. Furthermore, the firm’s latest common-stock sale generated more funds than the amount deployed toward Bitcoin.

Strategy’s Bitcoin Holdings Reach 849,327 BTC

Between October 26 and November 1, Strategy secured the coins at a mean price of $80,846 each. This purchase brought its total reserves to 849,327 BTC, acquired for a cumulative total of roughly $64.1 billion, which translates to a mean cost basis of $75,451 per coin.

While this latest buy-in price exceeded the average cost of its historical holdings, Strategy continued expanding its crypto exposure. Nevertheless, the heftier STRC transaction highlights that acquiring tokens was just one component of the company’s capital allocation during that weekly cycle.

MSTR Share Sales Funded Bitcoin and Added Cash

By offloading roughly 1.18 million MSTR common shares, Strategy pulled in net proceeds of about $164 million. It designated $65.5 million of that total toward Bitcoin, leaving the remaining $98.5 million to bolster its USD Cash reserves.

Consequently, the larger share of the common-stock revenue remained in cash form. As of November 1, the enterprise held $132.7 million in USD Cash alongside a separate US dollar reserve valued at $4.79 billion.

Thus, the Bitcoin purchase relied directly on MSTR common-stock offerings, whereas the $208.2 million STRC buyback operated as a distinct capital-allocation choice concerning preferred shares.

STRC Buybacks Were Already Outpacing Bitcoin Purchases

The recent expenditures arrive on the heels of roughly $644 million spent on STRC repurchases between October 1 and October 25. By comparison, Bitcoin purchases across that exact timeframe measured about $72 million.

Under corporate policy, Strategy is prohibited from issuing new STRC shares whenever prices drop below $100. Because these preferred shares traded at $99.22 during November 2 premarket sessions, this funding avenue remained restricted while valuations stayed under the required limit.

This dynamic plays a crucial role in ongoing accumulation strategies: although the company relied heavily on issuing preferred stock earlier in the year, its most recent Bitcoin buy drew from common equity instead. Additionally, the business maintained roughly $18.6 billion of unused capacity under its MSTR at-the-market program.

Financing Terms Will Shape Strategy’s Next Purchases

Strategy reported a third-quarter net income of $19.5 billion, a figure bolstered by a $20.9 billion operating gain linked to the quarterly rise in Bitcoin’s valuation. Because this fair-value accounting gain was unrealized, it did not provide actual cash to fund new acquisitions.

Concurrently, the structure of preferred-share payments is shifting. In a vote where 99.3% of participating shareholders approved the measure, investors backed daily dividend accruals for STRF, STRC, STRK, and STRD—inclusive of weekends and holidays—though overall dividend rates and total obligations remain unchanged.

Rollout is anticipated to kick off in November 2026 for STRC and January 2027 for the remaining three securities, contingent upon board approval and the submission of necessary regulatory filings.

Upcoming filings will indicate whether common-stock revenue continues to back both Bitcoin acquisitions and cash reserves, and whether STRC valuations will rebound to meet issuance thresholds. Strategy keeps purchasing BTC, though financing expenses and preferred-equity retirements remain critical to the underlying economics of its accumulation strategy.

?FAQ

01When did Strategy buy the 811 Bitcoin?

The acquisitions occurred between October 26 and November 1, 2026, with Strategy formally disclosing the trades in its November 2 filing.

02What was Strategy’s average purchase price per Bitcoin?

The most recent batch averaged $80,846 per BTC. Across its entire cryptocurrency treasury, Strategy’s mean acquisition cost sits at $75,451 per coin.

03How did Strategy fund the latest Bitcoin purchase?

The buy was financed through proceeds generated by selling approximately 1.18 million MSTR common shares. This sale brought in about $164 million, leaving $98.5 million in USD Cash after covering the Bitcoin allocation.

04How much STRC preferred stock did Strategy repurchase?

The most recently disclosed buyback totaled $208.2 million, following approximately $664 million spent on STRC repurchases between October 1 and October 25.

05How much Bitcoin does Strategy hold after the acquisition?

Following the purchase, the corporate treasury grew to 849,327 BTC, secured at a cumulative acquisition cost of roughly $64.1 billion.

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