Over the week from September 28 to October 4, Strategy bought 334 BTC for $28.7 million. At the same time, the company spent $176.3 million on buying back its STRC preferred shares. That is, about 6 times more was spent on share buybacks than on the new Bitcoin purchase.
How much Bitcoin Strategy now has
The average price of the latest purchase was $85,839 per coin. After the deal, Strategy's total balance grew to 848,000 BTC. At the current valuation, this is about $73 billion. This volume corresponds to approximately 4% of Bitcoin's maximum issuance of 21 million coins. In total, the company spent about $63.97 billion on BTC purchases. The average entry price across the entire volume is approximately $75,441.
The main point in the report - where the money went
From its dollar reserve, Strategy allocated $154.1 million to buy back about 1.77 million STRC shares. About $13 million from the reserve went to directly buying Bitcoin. Another $15.7 million was raised through the sale of 92,894 new MSTR common shares. BTC purchases have continued for a third week in a row, but the pace has slowed noticeably. A week earlier, Strategy acquired 1,665 BTC, meaning the current volume was about 5 times smaller.
What is happening with STRC
STRC is Strategy's preferred stock, on which the company pays dividends. The rate on them remains at 12% per annum. The company plans to maintain this level until the STRC price stabilizes around $100, that is, approximately near the offering price. Against this backdrop, some of the market's attention has shifted from new Bitcoin purchases to supporting its own preferred securities.
What the company's balance sheet says
For the third quarter of 2026, Strategy showed a profit on digital assets of about $20.91 billion. But this is not a cash inflow, but a revaluation of Bitcoin's value at the current market price. At the same time, the company reflects a deferred tax of about $1.88 billion. After the BTC price recovered, Strategy was also able to adjust its tax asset by $4.12 billion. The company's reserve still holds about $5.7 billion in dollar assets.
What's next
The next important date is October 28. Shareholders will vote on a plan for daily dividends on four preferred issues. At the same time, other public companies continue to build up their Bitcoin reserves. Strive bought another 2,000 BTC and now holds 29,462 BTC.
Your BTC and their 848,000 on the same chart
Large companies gain an advantage not only through analysis, but also through the scale of their capital. For Strategy, buying tens of millions of dollars' worth remains a routine part of its balance sheet management strategy. Prop trading solves a similar problem with the size of available capital: after passing the challenge, a trader gains access to the company's account without needing to have a comparable amount of their own capital. It is better to understand the mechanics in advance, rather than after the next strong Bitcoin move.