Strategy bought 250 Bitcoin for about $21.5 million between Oct. 5 and Oct. 11, marking the company’s smallest reported positive Bitcoin purchase of 2026. During the same week, it spent $192.4 million repurchasing its STRC preferred shares—almost nine times as much as it allocated to Bitcoin.
The figures, disclosed on Oct. 12 and reported by CryptoSlate, show how Strategy’s capital is being divided between its long-running Bitcoin accumulation strategy and efforts to support its preferred-stock securities. The company, formerly known as MicroStrategy, was founded by Michael Saylor and has become one of the largest corporate holders of Bitcoin.
Bitcoin purchases slow as STRC spending rises
The latest acquisition increased Strategy’s Bitcoin holdings to 848,250 BTC. The company said those holdings had been acquired for approximately $64 billion, representing an average purchase price of $75,444 per Bitcoin.
Strategy paid about $86,194 per coin for the latest purchase. That was higher than the roughly $85,839 average price paid for the 334 BTC it bought during the previous reporting period, covering Sept. 28 through Oct. 4.
The reduction in buying extends a recent slowdown. The company’s latest purchase was also made as Bitcoin struggled to maintain its recovery after a market decline that briefly pushed the cryptocurrency toward $80,000, according to the source material.
By contrast, spending on STRC buybacks accelerated. Strategy repurchased 1,932,145 shares of its variable-rate STRC preferred stock for $192.4 million in the latest week, up from $176.3 million in the preceding period.
The average implied price of the latest STRC repurchases was approximately $99.58 per share. That placed the stock less than 0.5% below its $100 stated amount. The price is notable because Strategy’s July repurchase policy called for more aggressive buying when the shares traded at deeper discounts, with purchases expected to decline as STRC moved closer to $100.
The repurchases can also reduce the company’s future dividend obligations by retiring preferred shares. At STRC’s current annual dividend rate of 12%, the latest buyback would eliminate approximately $23.2 million in annualized dividend payments, assuming the rate does not change.
Strategy has said its broader aim is to build enough independent demand for STRC that the preferred stock can trade consistently near $100 without requiring continued large-scale company intervention.
Cash resources and the remaining buyback authorization
Strategy reported $4.88 billion in its dedicated USD Reserve and a further $640.5 million in USD Cash as of Oct. 11. Together, those balances represented approximately $5.52 billion in dollar-denominated liquidity.
The USD Cash balance fell from $833.4 million one week earlier, a decline of $192.9 million that broadly matched the amount spent on the STRC repurchases.
The company also raised approximately $21 million by selling 125,183 common shares during the week. It issued no additional preferred stock through its at-the-market programs. The common-share proceeds funded $21 million of the Bitcoin purchases, while the remaining $0.5 million came from USD Cash.
The distinction between Strategy’s two cash pools is important. Under a board-approved policy, the USD Reserve is earmarked for preferred dividends and interest payments. Strategy says it does not have authorization to use that reserve for STRC repurchases, although other uses require board approval.
USD Cash, in contrast, can be used for Bitcoin acquisitions, preferred-share buybacks and other capital-management activities. This means continued STRC repurchases reduce the unrestricted liquidity available for other purposes unless the company raises more funds.
Strategy has $354.8 million of authorization remaining under its digital credit securities repurchase program. If the company continued buying at the latest weekly rate of $192.4 million, that authorization would cover about 1.84 weeks, assuming both the pace and authorization remained unchanged.
Shareholder vote will address daily dividends
Strategy shareholders are scheduled to vote on Oct. 28 on a proposal to move the company’s four US-listed preferred securities to daily dividend payments, with STRC expected to transition first.
Under the plan, dividends would accrue each day and be paid on the next business day. For STRC, that would replace the current semi-monthly payment schedule without raising the annual dividend rate.
Strategy says daily payments could improve liquidity, reduce delays in reinvesting dividends and support more stable trading around STRC’s $100 target. If shareholders approve the proposal, the first daily record date for STRC would be Nov. 1, with payment scheduled for Nov. 2.
The vote comes one day before Strategy is scheduled to report its third-quarter financial results on Oct. 29. Those results will provide another opportunity for management to discuss the company’s preferred-stock strategy and the slower pace of Bitcoin purchases.
Moneyiar market picture
Moneyiar data at 20:49 Tehran time on Oct. 13 showed Bitcoin at $83,314.89, up 0.36% over 24 hours but down 2.70% over seven days. Cronos stood at $0.05925, down 3.80% in 24 hours and 10.79% over seven days.
NEAR Protocol was priced at $5.07295, falling 7.97% over 24 hours and 1.92% over the week. JUST traded at $0.13798, down 0.70% in the past day and 2.29% over seven days.
