According to transactions made public on November 2, Strategy acquired 811 Bitcoin (BTC) for roughly $65.5 million while simultaneously expending $208.2 million to repurchase STRC preferred shares. The firm channeled more than three times the amount of cash into the preferred-share buyback than it used for its newest Bitcoin purchase.
This distribution of funds allows Strategy to keep expanding its BTC stockpile while directing significantly heavier financial resources toward retiring preferred equity. Furthermore, the company’s latest common-stock offering generated excess cash beyond the amount dedicated to Bitcoin.
Strategy’s Bitcoin Holdings Reach 849,327 BTC
The coins were purchased between October 26 and November 1 at a mean price of $80,846 each. This transaction brought total holdings to 849,327 BTC, acquired for an aggregate cost of approximately $64.1 billion, representing an average price of $75,451 per coin.
While this latest buy-in price exceeded the average cost basis of its cumulative holdings, Strategy continued to expand its exposure. However, the significantly larger STRC transaction highlights that purchasing digital assets constituted only a fraction of the firm’s capital allocation strategy during that week.
MSTR Share Sales Funded Bitcoin and Added Cash
Strategy offloaded approximately 1.18 million MSTR common shares, yielding roughly $164 million in net proceeds. Out of this sum, $65.5 million went toward Bitcoin, leaving the remaining $98.5 million to bolster its USD Cash reserves.
Consequently, the majority of the common-stock revenue remained in cash. By November 1, the enterprise maintained $132.7 million in USD Cash alongside a separate $4.79 billion US dollar reserve.
Therefore, the Bitcoin acquisition drew strictly from MSTR common-stock sales, whereas the $208.2 million STRC buyback constituted an independent capital-allocation measure involving preferred shares.
STRC Buybacks Were Already Outpacing Bitcoin Purchases
This recent outlay follows approximately $644 million worth of STRC repurchases executed between October 1 and October 25. By comparison, Bitcoin purchases across that exact timeframe summed to roughly $72 million.
Strategy’s corporate policy prohibits issuing new STRC shares below $100. During November 2 premarket trading, the preferred shares traded at $99.22, keeping that particular financing pipeline restricted while market prices stayed beneath the mandated threshold.
This dynamic plays a crucial role in ongoing accumulation efforts: although Strategy relied heavily on preferred issuance earlier in the year, its most recent Bitcoin acquisition drew upon common equity instead. Additionally, the company retained about $18.6 billion of available 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, which encompassed a $20.9 billion operating gain driven by the quarterly rise in Bitcoin’s valuation. Because this fair-value accounting gain was unrealized, it did not provide actual liquidity for fresh acquisitions.
Meanwhile, rules governing preferred-share payments are shifting. By a 99.3% majority vote, shareholders approved daily dividend accrual for STRF, STRC, STRK, and STRD, factoring in weekends and holidays. Total obligations and dividend rates remain unchanged.
Pending board approval and regulatory filings, implementation is slated to launch in November 2026 for STRC and January 2027 for the other three securities.
Upcoming financial filings will reveal whether common-stock proceeds will sustain both Bitcoin accumulation and cash reserves, and whether STRC pricing will recover to its issuance threshold. While Strategy continues to buy BTC, financing expenses and the retirement of preferred shares remain pivotal to the financial mechanics behind its accumulation strategy.
FAQ
When did Strategy buy the 811 Bitcoin?
The purchases took place from October 26 through November 1, 2026. Strategy disclosed the transactions in its November 2 filing.
What was Strategy’s average purchase price per Bitcoin?
The latest batch cost an average of $80,846 per BTC. Across its full Bitcoin treasury, Strategy’s average acquisition cost was $75,451 per coin.
How did Strategy fund the latest Bitcoin purchase?
Proceeds from selling approximately 1.18 million MSTR common shares financed the acquisition. The sale raised about $164 million, with $98.5 million retained in USD Cash after the Bitcoin allocation.
How much STRC preferred stock did Strategy repurchase?
The latest disclosed repurchase totaled $208.2 million. It followed roughly $664 million spent buying back STRC from October 1 through October 25.
How much Bitcoin does Strategy hold after the acquisition?
Its treasury reached 849,327 BTC after the purchase. The company’s aggregate acquisition cost was approximately $64.1 billion.
What was Strategy’s third-quarter net income?
Strategy’s third-quarter net income reached $19.5 billion, which included a $20.9 billion unrealized operating gain tied to Bitcoin’s quarterly price increase.
This article is for information only and is not financial advice.
