Strategy buys 334 BTC; preferred-share buybacks hit $1.45B

Strategy bought 334 Bitcoin for $28.7 million between Oct. 1 and Oct. 4, the company disclosed in an Oct. 5 SEC filing. The purchase raised its total Bitcoin holdings to 848,000 BTC and was the firm’s smallest positive Bitcoin acquisition in 2026, below a prior low of 520 BTC in June.

The coins were acquired at an average price of $85,838.80, bringing the carrying value of the Bitcoin position to $70.82 billion as of Sept. 30. Bitcoin gained about 43% in the third quarter, producing an estimated $20.91 billion fair-value gain under accounting rules; that figure reflects an unrealized mark-to-market increase rather than realized trading profit.

The company’s aggregate acquisition cost for its Bitcoin holdings stands near $63.97 billion, or about $75,440.70 per coin on average. To fund the Oct. 1–4 purchase, Strategy sold 92,894 shares of its common stock, MSTR, for $15.7 million and used roughly $13 million in cash.

Between Sept. 28 and Oct. 4 the company spent $176.3 million to repurchase about 1.77 million shares of its variable-rate perpetual preferred stock, STRC. Total spending under the preferred-stock repurchase authorization reached roughly $1.45 billion, leaving about $547.2 million available under a repurchase program the company doubled to $2 billion in September.

STRC has traded below its $100 stated amount for nearly 100 consecutive trading sessions after last closing at $100 in mid-May. The company raised STRC’s annual dividend rate to 12%, shifted dividend payments from monthly to semi-monthly in June, and began systematic repurchases earlier this year.

In a definitive proxy filed with the SEC, Strategy asked MSTR shareholders to approve changing the dividend accrual for its four U.S.-listed preferred securities to every calendar day, with payments due the next business day. The company said the amendment would not increase the annual dividend rate by itself. Shareholders of record as of Sept. 25 will vote on the proposal on Oct. 28; holders of STRC will not vote on the amendment. If approved, daily accruals would begin Nov. 1 and the first payment under the revised schedule would be due Nov. 2.

Chaitanya Jain, head of investor relations, quantified the balance-sheet sensitivity to Bitcoin price moves: “Every $1,000 increase in BTC price [during the third quarter represented] a $848 million fair market value gain to Strategy.”