Strategy adds BTC, ups STRC buybacks

Strategy Inc. bought 1,036 Bitcoin between November 2 and November 8, 2026, spending approximately $81.9 million and pushing its total holdings to 850,364 BTC. The coins were acquired at an average price of $79,012 per Bitcoin, according to a Form 8-K filed on November 9, 2026. This marks the first time the company’s Bitcoin balance has exceeded 850,000 BTC, representing just over 4% of Bitcoin’s fixed supply cap of 21 million coins. The company describes itself as a Bitcoin treasury firm and continues to add to its holdings on a frequent basis.

Across all purchases to date, Strategy’s 850,364 BTC have been acquired for approximately $64.16 billion. This implies an average purchase price of $75,456 per Bitcoin, including fees and expenses. The latest weekly acquisition was larger than the 811 BTC the company reported buying in the prior week’s filing, highlighting an ongoing accumulation pattern.

To fund the new Bitcoin purchases and a concurrent capital-structure move, Strategy sold 2,051,348 shares of its MSTR (MSTR) Class A common stock through its at-the-market offering program. These sales generated net proceeds of $283.8 million during the November 2–8 period. The company did not issue any of its listed preferred shares during this timeframe.

Strategy allocated the $283.8 million of proceeds among three uses. About $81.9 million, or roughly 29% of the total, went toward buying Bitcoin. A larger portion, $188.3 million, or about 66%, was directed to repurchasing STRC preferred shares, while $13.6 million was added to a USD cash balance for general corporate purposes.

Alongside Bitcoin accumulation, Strategy expanded its preferred share buyback activity. During the same November 2–8 window, the company spent $188.3 million to repurchase 1,887,464 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC. The transactions imply an average repurchase price of about $99.76 per share, close to STRC’s stated $100 amount.

These buybacks form part of an ongoing repurchase program for STRC. In October, the board increased the program’s limit from $2.0 billion to $3.0 billion, and, following the latest week’s activity, $560.3 million of that capacity remains available. The repurchases reduce the outstanding base of variable-rate preferred equity as the firm continues to issue additional common stock to finance both Bitcoin purchases and preferred buybacks.

Strategy’s disclosure also detailed its dollar reserves and cash position as of November 8, 2026. The company reported $4.77 billion in a designated USD Reserve and $146.2 million in separate USD Cash, for a combined dollar position of about $4.92 billion. During the week, $21.1 million was drawn from the USD Reserve to pay preferred dividends.

With substantial Bitcoin holdings alongside multi-billion-dollar dollar reserves, Strategy maintains large exposures to both digital assets and cash-like instruments. Strategy continued Bitcoin accumulation while managing preferred equity through STRC repurchases funded by MSTR share sales.