Strategy shifts $205M to STRC buybacks

Strategy Inc. redirected its weekly capital allocation toward preferred stock repurchases, spending about $204.9 million to buy back STRC shares while making no bitcoin purchases between October 19 and 25, 2026. The move brings total STRC repurchases for the week to roughly 2.07 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, funded entirely from USD Cash.

The latest actions are part of Strategy’s digital credit securities repurchase program, under which approximately $956.8 million remains available following recent STRC buybacks. The company also retains a separate $1.0 billion authorization to repurchase its MSTR (MSTR) common stock, which was not utilized during the reported period.

During the October 19–25 window, Strategy neither bought nor sold bitcoin, breaking a recent streak of weekly accumulation. Its bitcoin holdings remained at 848,517 BTC, consistent with its latest Form 8-K and BTC dashboard data.

The company’s bitcoin stack has an aggregate purchase cost of about $64.02 billion at an average acquisition price of $75,446 per bitcoin, inclusive of fees and expenses. This position represents roughly 4% of bitcoin’s fixed 21 million supply, reinforcing bitcoin’s role as Strategy’s primary treasury reserve asset despite the short-term pause in new purchases.

As of October 25, Strategy reported a USD Reserve balance of $4.83 billion dedicated to servicing preferred dividends and interest on indebtedness, alongside USD Cash of $242.4 million. Combined, these balances total about $5.07 billion in USD-denominated assets.

USD Cash declined from the prior week in line with the $204.9 million spent on STRC repurchases, while the USD Reserve remained unchanged. This structure reflects the company’s Digital Credit Capital Framework, which distinguishes between reserve assets earmarked for fixed obligations and more flexible cash that can be deployed for bitcoin purchases or further balance sheet management.

The absence of bitcoin purchases in the latest week contrasts with earlier October activity, when Strategy disclosed acquisitions of 250 BTC between October 5 and 11 and 334 BTC between October 1 and 4. More recently, it also reported a weekly purchase of 267 BTC for $22.1 million prior to the current pause.

With bitcoin holdings static and capital flowing to preferred stock repurchases, market attention has shifted toward Strategy’s equity performance and capital structure. The company’s allocation choices, including expanded authorization of its $3 billion digital credit repurchase program, highlight a near-term emphasis on managing outstanding securities alongside its existing bitcoin treasury.