Namespace
← Back to Blog
newsbitcoinstrategymstrstrc

Strategy buys 811 bitcoin, repurchases $208M of STRC

November 5, 2026

Strategy Inc bought 811 bitcoin and repurchased $208.2 million of its STRC preferred shares in the week ended November 1, 2026, according to a Form 8-K filed with the U.S. Securities and Exchange Commission on November 2. Executive Chairman Michael Saylor said the company held 849,327 BTC and $4.9 billion of USD assets as of that date.

What happened

The filing shows the coins cost $65.5 million, an average of $80,846 each including fees and expenses. Strategy funded the purchase with part of $164.0 million in net proceeds from selling 1,178,552 shares of Class A common stock, ticker MSTR, through its at-the-market program. It allocated the other $98.5 million of those proceeds to USD Cash, a balance the company says it can use for bitcoin purchases, reserve additions, and other treasury purposes.

As of November 1, Strategy reported aggregate holdings of 849,327 BTC, acquired for $64.08 billion, or $75,451 per bitcoin. The prior weekly filing had left holdings at 848,517 BTC and showed no bitcoin purchases or sales. The Block, citing the latest disclosure, reported that the stack is more than 4% of bitcoin's 21 million supply cap.

The larger cash outlay was the preferred buyback. Strategy repurchased 2,092,035 shares of Variable Rate Series A Perpetual Stretch Preferred Stock, listed as STRC, for $208.2 million, paid from USD Cash. It bought back no STRF, STRK, STRD, or MSTR shares. Afterward, $748.6 million remained under the digital credit securities repurchase program. A separate $1.0 billion common-stock repurchase authorization was unused.

Preferred dividends used $43.4 million of the USD Reserve. As of November 1, that reserve was $4.79 billion and USD Cash was $132.7 million. Saylor described those USD assets as $4.9 billion in his post on X. Strategy published the same headline figures on its press page, which links to the filing.

Why it matters

STRC repurchases again exceeded the bitcoin purchase. BitcoinTreasuries, summarizing recent filings, said that from October 12 through November 1 the company spent $606.2 million buying back STRC and $87.6 million on bitcoin. That period included 267 BTC bought for $22.1 million in the week of October 12 to 18 and no bitcoin activity the week after.

STRC is a variable-rate perpetual preferred stock Strategy has issued alongside its bitcoin treasury. Retiring shares reduces future dividends on the amount bought back. The November 2 filing does not state why buybacks outpaced new coin purchases. It does show substantial unused issuance capacity: about $18.62 billion of MSTR and $17.51 billion of STRC remained available for sale under the at-the-market programs.

Saylor previewed the update with the phrase "We found room for even more orange," according to The Block. The Monday announcement restated the purchase and repurchase totals and did not include a forecast.

What's next

Strategy has been releasing these figures about once a week through SEC filings and posts from Saylor. The November 2 filing does not set a purchase or buyback schedule. It records cash balances and unused capacity under programs the company has already disclosed, including the ATM offerings and the preferred and common repurchase authorizations.

On November 1, Strategy said on X that STRC dividends would begin paying daily and that it had paid every digital-credit dividend since inception. That dividend change is separate from the repurchase reported the next day. The filing does not indicate the size or timing of any later bitcoin purchase or buyback.

Sources

More from the Namespace blog