Strategy spent $208M buying back STRC and only $65.5M on bitcoin

What happened. On November 2 Strategy filed an 8-K with the SEC for the week of October 26 to November 1. It bought 811 BTC for $65.5 million, an average of $80,846 per coin including fees. It now holds 849,327 BTC bought for $64.08 billion, an average of $75,451.

Where the money came from. Strategy sold 1,178,552 MSTR common shares for $164 million. $65.5 million went to bitcoin and $98.5 million to its USD Cash balance. From USD Cash it spent $208.2 million buying back 2,092,035 STRC preferred shares. It sold no new preferred stock that week.

Why. STRC is a preferred stock with a variable dividend and a $100 target price. Per Cointelegraph, it traded at $99.22 before Monday's open, about 0.8% below target. Company policy is not to issue new STRC below $100. From October 1 to 25 Strategy bought back about $664 million of STRC and bought about $72 million of bitcoin.

Dollar buffers. The USD Reserve, meant for dividends and interest, stands at $4.79 billion; $43.4 million of it went to dividends that week. USD Cash is $132.7 million. $748.6 million remains under the preferred stock buyback program.

What is not known. How many more weeks Strategy spends more on buybacks than on bitcoin. When STRC gets back to $100. This is an overview, not advice.

حقائق مؤكدة

• From October 26 to November 1, 2026 Strategy bought 811 BTC for $65.5 million at an average price of $80,846.^[1][2]
• As of November 1 Strategy holds 849,327 BTC with a total cost of $64.08 billion, an average of $75,451.^[1]
• The company bought back 2,092,035 STRC shares for $208.2 million using USD Cash.^[1][2]
• Strategy sold 1,178,552 MSTR shares for $164 million: $65.5 million for bitcoin, $98.5 million to USD Cash.^[1][2]
• USD Reserve $4.79 billion, USD Cash $132.7 million; $43.4 million of the reserve paid dividends.^[1]
• $748.6 million remains under the preferred stock buyback program.^[1]
• STRC traded at $99.22 before Monday's open; the company does not issue new STRC below $100.^[2]
• From October 1 to 25 Strategy bought back about $664 million of STRC and bought about $72 million of bitcoin.^[2]

التبعات

• مؤكدRight now Strategy spends more on STRC buybacks than on bitcoin.
• قراءتناWhile STRC stays below $100, Strategy's bitcoin demand may stay smaller than before. This is our view.
• قراءتناIf STRC returns to $100, the company can issue it again and buy more bitcoin. This is our view.

لا يزال مجهولًا

• How long Strategy keeps buying back STRC
• When STRC gets back to $100
• Whether the company keeps selling MSTR to buy bitcoin

من يتأثر

USA, World. People who hold bitcoin, MSTR or Strategy preferred stock

المصادر

1. SEC (Strategy Inc 8-K): Strategy Inc Form 8-K, November 2, 2026 2 نوفمبر 2026 · رسمي
2. Cointelegraph: Strategy spends triple its weekly Bitcoin outlay on STRC buybacks 2 نوفمبر 2026 · إعلام