Power Move: Strategy Acquires 811 Bitcoin, Pumps $210M into STRC Buybacks

The firm has purchased 811 Bitcoin (BTC▲$77,798.00) for approximately $65.5 million while also investing $208.2 million in repurchasing STRC preferred shares, as revealed in transactions on November 2. This acquisition reflects more than three times the amount allocated to the preferred share buyback compared to their latest Bitcoin purchase.

This strategy keeps the firm actively acquiring BTC while directing significantly more resources toward reducing preferred equity. Additionally, recent common-stock sales boosted its cash reserves beyond the Bitcoin expenditure.

Strategy’s Bitcoin Holdings Surpass 849,327 BTC

The company procured these Bitcoins from October 26 to November 1 at an average price of $80,846 each. This move increased its total Bitcoin holdings to 849,327 BTC, amassed for around $64.1 billion at an average acquisition cost of $75,451 per Bitcoin.

The recent purchase price exceeded the average of its entire Bitcoin portfolio. While the firm continues to expand its exposure to Bitcoin, the larger STRC transaction demonstrates that its capital distribution involved more than just cryptocurrency acquisitions that week.

MSTR Share Sales Finance Bitcoin Purchases and Enhance Cash Reserves

The company sold approximately 1.18 million shares of MSTR common stock, generating about $164 million in net revenues. Of this, $65.5 million was allocated to Bitcoin, with the remainder, $98.5 million, added to its USD Cash reserves.

Consequently, a major portion of the common-stock proceeds is held as cash. As of November 1, the firm had $132.7 million in USD Cash in addition to a distinct $4.79 billion US dollar reserve.

Therefore, the Bitcoin purchase was financed through the sale of MSTR common stock, distinct from the $208.2 million set aside for the repurchase of preferred shares.

STRC Buybacks Have Surpassed Bitcoin Acquisitions

The latest expenditure occurred after a substantial $664 million spent on STRC repurchases between October 1 and October 25, while acquisitions of Bitcoin during the same timeframe amounted to roughly $72 million.

The company’s policy restricts new STRC issuance below the $100 mark. On November 2, the preferred shares were trading at $99.22 in premarket trading, limiting that funding avenue while the price remained under this threshold.

This is critical for ongoing accumulation: earlier in the year, the firm significantly depended on preferred share issuance, but recent Bitcoin purchases relied on common equity instead. The company still has around $18.6 billion available under its MSTR at-the-market program.

Financing Conditions Will Influence Strategy’s Upcoming Purchases

For the third quarter, the firm reported a net income of $19.5 billion, which includes a $20.9 billion operational gain attributable to the increase in Bitcoin prices during the quarter. However, this gain is accounted for as fair value and has not generated any cash for further purchases.

Adjustments to the preferred-share dividend policy are also underway. Shareholders agreed to daily dividend accrual for STRF, STRC, STRK, and STRD—covering weekends and holidays—with 99.3% of voters in favor. The rates and overall obligations will remain unchanged.

The new policy is anticipated to take effect in November 2026 for STRC and in January 2027 for the other three securities, pending board approval and regulatory compliance.

Future reports will clarify whether the proceeds from common stock will continue to support both Bitcoin acquisitions and cash reserves, as well as whether STRC will return to its issuance threshold. The company remains committed to buying BTC, but the costs associated with financing and preferred share retirements play a significant role in this strategy.