Strategy Inc. announced on October 12, 2026, that it has acquired 250 Bitcoin and repurchased $192 million of its STRC Variable Rate Series A Perpetual Stretch Preferred Stock.
Executive Chairman Michael Saylor disclosed the figures in a post on X, noting that as of October 11 the company holds 848,250 BTC together with $5.5 billion of USD assets. The dual action of adding to the Bitcoin treasury while reducing outstanding preferred stock continues the firm’s pattern of active capital management under its Digital Credit framework.
According to the official press release, the 250 Bitcoin were purchased for an aggregate of $21.5 million, inclusive of fees and expenses. Of this total, $21.0 million was funded with net proceeds from sales of MSTR Class A common stock under the company’s at-the-market offering program, while the remaining $0.5 million came from USD Cash during the period October 5 through October 11, 2026.
These additions bring Strategy’s Bitcoin holdings to 848,250 coins. The company has consistently described itself as the world’s first and largest Bitcoin Treasury Company, and its current position represents approximately 4% of Bitcoin’s fixed 21 million supply cap. Earlier weekly updates have shown similar incremental purchases funded through a combination of equity proceeds and existing cash balances, reflecting an ongoing preference for expanding the digital-asset reserve when capital is available on terms the company deems favorable.
The USD asset figure of $5.5 billion comprises the USD Reserve of $4.88 billion and USD Cash of $640.5 million as of October 11. The reserve is maintained specifically to support preferred-stock dividends and interest payments on outstanding indebtedness, while broader USD Cash is available for general Bitcoin treasury purposes, including further acquisitions. Management has previously indicated that the size of these dollar balances is calibrated to provide multi-year coverage of recurring obligations under a range of market conditions.
STRC Repurchase Activity and Remaining Authorization
The $192 million repurchase of STRC was executed under Strategy’s digital credit securities repurchase program. Following this transaction, $354.8 million of aggregate purchase price capacity remains available for preferred-stock repurchases. Separately, $1.0 billion of authorization continues to be available under the MSTR common-stock repurchase program.
These programs were established as part of the capital framework the company adopted earlier in 2026, which also includes a board-approved USD Reserve policy and provisions for Bitcoin monetization under defined circumstances.
STRC is a variable-rate perpetual preferred stock designed to offer shorter-duration, lower-volatility exposure relative to MSTR common equity. The company has stated that it intends to be a regular purchaser of STRC when the security trades below its $100 stated amount, subject to market conditions, available liquidity, and capital-allocation priorities.
The latest repurchase reduces the outstanding amount of this instrument and thereby lowers the associated dividend obligation going forward. Comparable repurchase activity has appeared in prior periods, including earlier weeks when the company prioritized preferred-stock buybacks alongside or instead of Bitcoin purchases.
In a follow-up statement, Saylor reported that Strategy’s USD Duration stands at 3.5 years and that STRC’s BTC Credit is 52 basis points. These figures rest on stated assumptions of a 10% Bitcoin annualized return rate, 40% Bitcoin volatility, and a Bitcoin price of $82,252. Investors can review the full set of credit metrics and the methodology behind them on Strategy’s credit risk page. The company presents these metrics as a way to quantify the dollar-duration and Bitcoin-exposure characteristics of its preferred securities relative to the underlying Bitcoin holdings and cash reserves.
Digital Credit Framework and Corporate Structure
Strategy’s overall approach rests on a distinction between MSTR common equity, which provides amplified exposure to Bitcoin and ownership interest in the digital-credit business, and preferred instruments such as STRC, which are structured to dampen volatility, compress duration, and deliver a U.S.-dollar yield.
Issuance of MSTR can be used to acquire additional Bitcoin without creating a new senior claim, while issuance or repurchase of STRC allows the company to adjust the supply of credit securities as market conditions change. This two-product structure is intended to serve different investor preferences within the same Bitcoin-backed enterprise.
The firm also continues to operate as a provider of AI-powered enterprise analytics software under its “Intelligence Everywhere” initiative. Management has described the combination of the Bitcoin treasury strategy and the scaled software business as a means of supporting long-term value creation. The software segment generates operating cash flow and provides a conventional business foundation alongside the capital-markets activity centered on Bitcoin and digital credit.
Recent weeks have featured a series of similar treasury and repurchase announcements, illustrating the company’s practice of publishing weekly or near-weekly updates on Bitcoin holdings, preferred-stock activity, and USD asset balances. Earlier coverage of these updates has noted both incremental Bitcoin acquisitions and periods focused more heavily on STRC management. Saylor has also elaborated on the interplay among Bitcoin holdings, cash reserves, debt, and preferred securities under the digital credit framework.
The October 12 announcement supplies current figures on both the digital-asset side and the credit side of the balance sheet. With 848,250 BTC and substantial dollar liquidity, Strategy retains capacity to continue acquiring Bitcoin, repurchasing preferred or common stock, or building the USD Reserve as conditions warrant. The transactions underscore the firm’s ongoing management of its capital structure while maintaining one of the largest corporate Bitcoin positions on record.
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