Strategy skips bitcoin for a week and buys back $205M of its own stock

What happened. Strategy (formerly MicroStrategy) files a weekly update with the SEC. The update for 19-25 October says the company sold no shares through its at-the-market (ATM) programme, which sells stock at market prices in small batches, and did not buy or sell any bitcoin.

Where the money went. Strategy repurchased 2,068,459 shares of STRC (Stretch) for $204.9 million. STRC is a preferred stock with a variable dividend that the company sells to investors to fund bitcoin buys. When its price slips, buybacks help keep it near its face value.

What is left. The USD Reserve, kept for dividends and interest, stayed at $4.83 billion. Spare cash (USD Cash) dropped to $242.4 million. Cointelegraph reports it was $447.3 million a week earlier, a drop of about 46%. The buyback programmes still have $956.8 million available for preferred stock and $1.0 billion for MSTR common stock.

Context. According to Cointelegraph, since the start of October Strategy has spent about $664 million on STRC buybacks and about $72.3 million on bitcoin. Bitcoin rose to $84,777 last week and then slipped back towards $80,000.

On the same day Bitmine, the biggest corporate holder of ether, also put the spotlight on buying back its own shares. Big crypto treasury companies seem to be spending on their own stock, not only on coins. BTC price on Freekonomist: https://freekonomist.com/en/crypto/btc/.

Hechos confirmados

• From 19 to 25 October 2026 Strategy sold no shares through its ATM programme and did not buy or sell any bitcoin.^[1][2]
• As of 25 October Strategy holds about 848,517 BTC bought for $64.02 billion, an average of about $75,446 per coin.^[1][2]
• During the week Strategy repurchased 2,068,459 STRC shares for $204.9 million.^[1][2]
• The USD Reserve stood at $4.83 billion and USD Cash at $242.4 million.^[1][2]
• $956.8 million remains under the preferred stock buyback programme and $1.0 billion under the MSTR buyback programme.^[1]
• Since October began Strategy has spent about $664 million on STRC buybacks and $72.3 million on 851 BTC.^[2]

Implicaciones

• ConfirmadoStrategy added no bitcoin demand this week.
• Nuestra lecturaFor now the company puts supporting the STRC price ahead of new bitcoin buys.
• Nuestra lecturaIf STRC steadies, it gets easier for the company to raise money for bitcoin again.

Todavía no se sabe

• When Strategy will resume bitcoin buying.
• Whether it will keep buying back STRC this week.
• Why the company sold no stock through the ATM.

A quién afecta

United States, Global. People who hold bitcoin or MSTR stock and watch the big buyers

Fuentes

1. SEC (Strategy Inc, Form 8-K): Strategy Inc Form 8-K, 26 October 2026 26 de octubre de 2026 · oficial
2. Cointelegraph: Strategy skips Bitcoin purchases, spends $205M on STRC buybacks 26 de octubre de 2026 · medios