Strategy bought 267 BTC in the week ending October 18, 2026, bringing its reported holdings to 848, 517 BTC. The company also raised its authorization to repurchase digital credit securities. Separately, Michael Saylor reported about $193 million in STRC buybacks, a figure not detailed in Strategy’s October 19 filing.
- Bitcoin purchase: $22.1 million for 267 BTC, or $82, 900 per coin, including fees and expenses.
- Funding: $22 million from MSTR stock-sale proceeds and $100, 000 in U.S. dollar cash.
- Holdings: 848, 517 BTC, with an aggregate purchase cost of $64.02 billion.
- Repurchase authorization: Increased to $3 billion, with $1.16 billion still available as of October 18.
- STRC buyback: Saylor reported about $193 million in repurchases, but the filing does not disclose the share count or average price.
Strategy’s Bitcoin holdings rise to 848, 517 BTC
Strategy’s October 19, 2026 Form 8-K says the company acquired 267 BTC during the period ending October 18. The purchase cost $22.1 million, including fees and expenses, at an average price of $82, 900 per bitcoin.
The filing says Strategy funded $22 million of the purchase with net proceeds from MSTR common-stock sales and the remaining $100, 000 with U.S. dollar cash. This describes the disclosed funding for this Bitcoin purchase. It does not show how the company funded other transactions.
Strategy’s holdings rose from 848, 250 BTC on October 11 to 848, 517 BTC on October 18, according to the reported purchase and holdings update. The filing puts the company’s total Bitcoin purchase cost at $64.02 billion, or an average of $75, 446 per BTC, including fees and expenses.
That average reflects Strategy’s historical purchase cost, not the current market value of its holdings. A change in Bitcoin’s price can create unrealized gains or losses on the position. Those are different from gains or losses realized when BTC is sold.
Strategy’s 848, 517 BTC represent about 4.04% of Bitcoin’s maximum possible supply of 21 million coins. That figure compares the company’s reported holdings with the protocol’s supply cap. It does not mean Strategy owns 4.04% of the Bitcoin in circulation or available to buy.
The $3 billion authorization is not a spending commitment
Strategy raised its Digital Credit Securities Repurchase Program authorization from $2 billion to $3 billion. The company said in its filing that $1.16 billion remained available as of October 18. The authorization includes commissions, fees, expenses and repurchases already made under the program, so the remaining amount is not a fresh $3 billion pool.
Subtracting the remaining amount from the authorization leaves $1.84 billion that was no longer available at that point. That includes repurchases and related costs counted under the program. It does not show how much Strategy spent during the latest week or how much went specifically toward STRC.
The program covers eligible digital credit securities, including preferred-stock classes. An authorization gives a company permission to make repurchases. It does not require Strategy to use the full amount.
Saylor separately reported approximately $193 million in repurchases of STRC, Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock. The October 19 filing confirms the increased authorization but does not disclose the share count or average price for that reported STRC transaction. Nor does it provide enough detail to establish how the reported buyback was accounted for under the program.
What an STRC repurchase means
STRC is a preferred security with a variable dividend rate and no stated maturity date. Its $100 stated amount is a reference point, not a promise that the security will trade at $100. The dividend rate can change, and payment is not guaranteed.
Buying back preferred shares reduces the number outstanding and may lower future dividend obligations. The potential savings depend on how many shares Strategy repurchases and the applicable dividend terms. Without the share count and price for the reported transaction, those savings cannot be calculated.
A preferred-stock repurchase is different from buying Bitcoin. One changes the company’s financing mix and potential distribution obligations. The other adds BTC to its treasury. Strategy can make both moves at once, but they are not the same kind of bet.
Issuance and buybacks carry different trade-offs
Strategy used proceeds from MSTR common-stock sales to help fund its latest reported Bitcoin purchase while increasing its authority to repurchase eligible preferred securities. Selling common stock can dilute existing shareholders. Preferred securities carry dividend terms and other obligations. Repurchases may change those obligations, but they do not remove the costs of financing the business or guarantee that shares will be bought back at attractive prices. The debate over STRC’s implications for MSTR reflects some of these trade-offs.
Holding more Bitcoin also means greater exposure to its price swings. In its risk disclosures, Strategy identifies potential effects from sharp price declines, regulatory changes, market disruption, custody or trading-venue problems, and changes to Bitcoin’s protocol or mining economics. These are risks the company lists, not predictions that any of them will occur.
The transaction details matter. Strategy’s filing gives the Bitcoin purchase price and its stated funding. Saylor separately reported the approximately $193 million STRC repurchase figure, but the filing does not provide the share count or average price. Keeping those disclosures separate gives a clearer picture than treating every headline number as equally well documented.
Key questions
-
How much did Strategy pay for its latest Bitcoin purchase?
Strategy reported a cost of $22.1 million for 267 BTC, an average of $82, 900 per coin, including fees and expenses.
-
How did Strategy fund the purchase?
The filing says $22 million came from net proceeds from MSTR stock sales and $100, 000 from U.S. dollar cash.
-
Does the $3 billion authorization mean Strategy will spend $3 billion?
No. The authorization does not require Strategy to spend the full amount. The company said $1.16 billion remained available as of October 18.
-
How many STRC shares did Strategy repurchase?
Saylor reported about $193 million in STRC repurchases, but the October 19 filing does not disclose the number of shares or the average purchase price.
-
Does Strategy hold 4.04% of Bitcoin in circulation?
No. The figure compares its holdings with Bitcoin’s maximum possible supply of 21 million, not the circulating supply or the coins available on the market.
