Strategy Buys 1, 036 Bitcoin and Repurchases $188 Million in STRC
Strategy reported buying 1, 036 BTC for $81.9 million and repurchasing $188.3 million of its STRC preferred stock in the week ending Nov. 8, 2026. The publicly traded company funded both moves with proceeds from sales of its MSTR common shares.
- Bitcoin purchase: 1, 036 BTC at an average $79, 012 per coin, including fees and expenses.
- STRC buyback: 1, 887, 464 shares repurchased for $188.3 million.
- Reported holdings: 850, 364 BTC, though the previous balance plus the latest purchase comes to one BTC less.
Strategy’s Bitcoin Total Has a One-Coin Mismatch
In a filing dated Nov. 9, 2026, Strategy said it acquired 1, 036 BTC between Nov. 2 and Nov. 8 at an average price of $79, 012 per coin. The company reported total holdings of 850, 364 BTC, purchased for a combined $64.16 billion at an average price of $75, 456.
The totals do not add up. Strategy’s previous balance was 849, 327 BTC, and adding 1, 036 BTC gives 850, 363 BTC. The filing figures do not explain the one-Bitcoin difference.
Bitcoin was reported near $74, 800 after the announcement, below Strategy’s stated average purchase price. At that price, the holdings would be worth roughly $63.6 billion, less than their reported purchase cost of $64.16 billion. The exact timestamp for the $74, 800 quote was not specified, so treat it as a snapshot rather than a live price.
That comparison does not capture Strategy’s full financial position. A market value below the purchase cost is an unrealized decline, not cash lost in a sale. Under fair-value accounting, though, changes in Bitcoin’s value can affect reported earnings before the company sells any coins. Market value and historical cost measure different things, and neither gives the full balance-sheet picture on its own.
MSTR Share Sales Funded the Purchases
Strategy sold 2, 051, 348 MSTR shares through its at-the-market offering program, raising about $283.8 million in net proceeds. The program lets a company sell shares into the market over time instead of through one separately priced offering.
Strategy put $81.9 million toward Bitcoin, $188.3 million toward the STRC repurchase and the remaining $13.6 million into general dollar cash.
Selling common shares raises capital, but it can dilute existing shareholders. As the total share count grows, each share represents a smaller ownership stake. Whether that trade-off benefits shareholders depends on factors such as the sale price and how the company uses the proceeds. Adding Bitcoin to the balance sheet does not answer that question on its own.
What the STRC Buyback Does and Doesn’t Tell Us
STRC, also called Stretch, is a Strategy preferred stock with a variable dividend rate that the company adjusts periodically. It is intended to trade around its $100 stated amount, but that price is not guaranteed in the market.
Strategy repurchased 1, 887, 464 STRC shares during the reporting period. The company did not say whether the buyback would reduce annual dividend costs, or by how much. It also did not sell new preferred shares or repurchase other preferred-stock classes during the week.
As of Nov. 8, Strategy had $560.3 million left under its STRC repurchase authorization. It did not use its separate $1 billion authorization to repurchase common stock during the week.
Dollar Reserves and Further Issuance Capacity
Strategy reported about $4.9 billion in dollar-denominated assets: a $4.77 billion reserve and $146.2 million in general dollar cash. It used $21.1 million from the reserve to pay preferred-stock dividends during the week.
The reserve supports preferred dividends and interest obligations on outstanding debt. General dollar cash is a separate pool that Strategy can use for Bitcoin purchases, capital management or possible additions to the reserve. The distinction matters because the two balances have different stated purposes.
Strategy also reported $18.34 billion in remaining capacity under its MSTR at-the-market offering program. That is available issuance capacity, not a commitment to sell shares or a guarantee that future sales will fetch favorable prices.
In the previous reporting week, Strategy bought 811 BTC for $65.5 million and repurchased $208.2 million of STRC. It reported holdings of 849, 327 BTC, while Bitcoin was quoted near $75, 900.
Strive Reports a 29-Bitcoin Purchase
Strive CEO Matt Cole said on X that the company bought 29 BTC for about $2.2 million, at an average price of $75, 721 per coin. Cole reported that Strive held 43, 153 BTC in total. He did not provide a detailed breakdown of how the latest purchase was funded.
Key Questions and Answers
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How much Bitcoin did Strategy buy?
It reported buying 1, 036 BTC for $81.9 million, at an average $79, 012 per coin, including fees and expenses.
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How did Strategy fund the Bitcoin purchase and STRC buyback?
It sold 2, 051, 348 MSTR shares through its at-the-market program, raising about $283.8 million in net proceeds.
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Was Bitcoin above Strategy’s average acquisition price?
No. The reported quote near $74, 800 was below Strategy’s stated average acquisition price of $75, 456. The exact time of the quote was not specified.
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Why is there a one-Bitcoin difference in the reported total?
The previous balance of 849, 327 BTC plus the latest 1, 036 BTC purchase equals 850, 363 BTC, while Strategy reported 850, 364 BTC. The figures do not explain the difference.
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What did Strive report?
Strive said it bought 29 BTC for about $2.2 million and held 43, 153 BTC in total. It did not explain how it financed the purchase.
Strategy continues to combine Bitcoin accumulation with capital-market activity. Its latest filing shows the scale of that approach and the trade-offs involved: Bitcoin prices fluctuate, and issuing common shares can dilute existing holders.
