Strategy Inc. acquired an additional 267 Bitcoin (BTC) for an aggregate purchase price of $22 million, inclusive of fees and expenses, during the period from October 12 to October 18, 2026.
According to the company’s Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on October 19, the purchase raised Strategy’s total Bitcoin holdings to 848,517 BTC as of October 18.
The filing reveals that the Bitcoin purchases were funded primarily through equity issuance. Strategy sold 140,872 shares of its Class A common stock (MSTR) under its at-the-market offering program, generating $22 million in net proceeds that were applied to the Bitcoin acquisition, with an additional $0.1 million drawn from USD Cash. This approach is consistent with the company’s established practice of using proceeds from common stock sales to expand its Bitcoin treasury while managing its broader capital structure.
The latest addition continues a multi-week pattern of accumulation. In the prior reporting period, Strategy acquired 250 Bitcoin between October 5 and October 11, as disclosed in its earlier capital markets update. That purchase, along with the current one, has kept the company’s holdings above the 848,000 BTC threshold for several consecutive weeks.
Bitcoin Purchase Details and Funding Sources
The 267 Bitcoin were acquired at an implied average price of approximately $82,400 per coin, including fees and expenses. Following the transaction, Strategy’s aggregate purchase price across its entire Bitcoin position stands at $64.02 billion, resulting in an average cost basis of $75,446 per Bitcoin. These figures include all fees and expenses associated with historical purchases.
As of October 18, the MSTR at-the-market program still had substantial remaining capacity. The filing indicates that a large authorization for future common stock issuance remains available, providing the company with flexibility to fund additional Bitcoin purchases or other capital activities should market conditions support further issuance. Strategy has repeatedly used this mechanism in recent months to finance incremental Bitcoin additions while simultaneously directing significant cash toward preferred stock management.
The modest size of the latest Bitcoin purchase relative to the company’s overall holdings reflects a continuation of measured accumulation rather than a large-scale deployment. Previous weekly updates have shown varying purchase sizes, including larger blocks earlier in the year and smaller additions in recent weeks. The company maintains a public dashboard on its website for ongoing disclosure of Bitcoin purchases, holdings, and related performance metrics in accordance with Regulation FD.
Preferred Stock Repurchases and Expanded Authorization
In the same October 12–18 period, Strategy repurchased 1,938,780 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for an aggregate purchase price of $193.1 million. The repurchases were funded entirely with USD Cash. This activity continues a recent pattern in which the company has allocated more capital to reducing its preferred stock outstanding than to new Bitcoin purchases in several reporting periods.
The board of directors approved an increase in the authorized aggregate purchase price under the digital credit securities repurchase program from $2.0 billion to $3.0 billion. The expanded authorization is inclusive of commissions, fees, expenses, and all prior repurchases made under the program. As of October 18, $1.16 billion in aggregate purchase price capacity remained available under the program. A separate authorization of $1.0 billion remains available for potential repurchases of MSTR common stock.
Read: Michael Saylor’s Strategy (MSTR) Conditionally Declares Daily Dividends on STRC
These steps form part of Strategy’s broader capital management framework, which includes a dedicated USD Reserve to support preferred stock dividends and interest on outstanding indebtedness, alongside USD Cash available for general treasury purposes. The company has previously described STRC as a digital credit instrument designed to provide yield while being supported by its overall balance sheet, including its Bitcoin holdings and dollar reserves. The ongoing repurchases reduce the outstanding preferred share count and associated dividend obligations over time.
Treasury Balances, Historical Context, and Forward Outlook
As of October 18, Strategy reported a USD Reserve of $4.83 billion and USD Cash of $447.3 million. The USD Reserve is maintained specifically to cover preferred stock dividends and interest payments, while USD Cash supports a wider range of activities, including Bitcoin purchases, capital management, and other corporate purposes. During the reporting period, the company used $45.5 million from the USD Reserve to fund preferred stock dividend payments and directed $193.1 million of USD Cash toward the STRC repurchases, in addition to the small amount used for the Bitcoin purchase.
Strategy’s Bitcoin holdings now represent more than 4% of Bitcoin’s fixed 21 million supply cap. The company began accumulating Bitcoin as its primary treasury reserve asset in August 2020 and has since become the largest publicly traded corporate holder of the asset. Recent filings and updates, including those covering earlier October and September activity, show a consistent approach of combining selective Bitcoin purchases with active management of preferred stock and liquidity. Coverage of the prior week’s 250 Bitcoin addition and the 334 Bitcoin purchase earlier in the month illustrates the ongoing cadence of these disclosures.
Executive Chairman Michael Saylor has publicly framed the company’s strategy around treating Bitcoin as superior digital capital and building a range of securities around that treasury. The firm continues to operate its original enterprise analytics software business alongside its Bitcoin-focused capital activities. Third-quarter 2026 financial results are scheduled for release later in October, which may provide additional detail on digital-asset fair value changes, operating performance, and capital structure developments.
The October 19 filing and accompanying press release underscore Strategy’s dual focus on incremental Bitcoin accumulation and active management of its preferred equity obligations. With substantial remaining capacity under both its at-the-market program and expanded repurchase authorization, the company retains tools to adjust its balance sheet as market conditions evolve. Investors and market participants will monitor subsequent weekly updates and the upcoming earnings release for further clarity on the pace of future Bitcoin purchases and preferred stock activity.
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