Strategy Buys 250 BTC for $21.5M, Spends $192M Buying Back STRC

Strategy, which holds more than 4% of all bitcoin, bought 250 BTC for about $21.5 million between October 5 and 11, 2026, at an average price of $86,194 per coin including fees. Co-founder and executive chairman Michael Saylor announced the purchase on Monday, October 12, at 8:02 AM ET, linking to the company's press release. Holdings now stand at 848,250 BTC. In the same week the company spent $192.4 million buying back its STRC preferred shares, nine times what it put into bitcoin.

Details

The purchase was funded almost entirely by selling common stock. According to The Block, Strategy sold 125,183 MSTR shares through its at-the-market program for roughly $21 million and covered the remaining $0.5 million or so from cash. As of October 11, $18.8 billion of common-stock ATM capacity remained.

In total, the company has spent about $64 billion on bitcoin at an average cost of $75,444 per coin. It also held $5.5 billion in dollar assets as of October 11: a $4.88 billion USD reserve plus $640.5 million in additional cash, Bitcoin.com reports.

The week's biggest outlay was the buyback. Strategy retired 1,932,145 shares of its Stretch preferred stock (STRC) for about $192.4 million, leaving $354.8 million in the repurchase authorization. It is the third straight week the company has spent more on STRC than on bitcoin: its previous 8-K showed $102.6 million of buybacks on September 28⁠–⁠30 and $73.7 million on October 1⁠–⁠4, when it bought 334 BTC for $28.7 million (we covered that purchase). Over three weeks, STRC buybacks have absorbed $368.7 million against $50.2 million for bitcoin.

On Sunday, October 11, Saylor posted his usual accumulation chart on X with the caption "There's always room for more orange." MSTR closed Friday at $154.34, down 7% for the week, per The Block.

What it means for the market

Strategy is still buying, but the amounts have shrunk to token size: 250 BTC in a week versus 1,665 BTC in late September. The latest purchases were also made above the current market. BTC traded near $83,400 as of 8:20 AM ET on October 12 (see the live price in the daily brief), although the company's overall position at an average of $75,444 remains in profit. The cash is going mainly to prop up STRC, which pays a 12% annual dividend: as long as the market will not absorb new preferred shares at a premium, Strategy has to buy them back instead of adding bitcoin. For the market, that means the largest corporate source of demand is barely moving the balance between buyers and sellers right now, and price is being set by other flows, above all the spot ETFs we explain in a separate article.