October 06, 2026 – A 334 BTC purchase lifted the company past its June peak. The larger cash outlay of the week went to buying back STRC preferred stock.
In Summary
Strategy bought 334 BTC for $28.7 million from Oct. 1 to Oct. 4, at about $85,839 each.
Holdings of 848,000 BTC top the previous record of 847,363 reached on June 21.
The company spent $176.3 million buying back STRC preferred shares over the same week.
Strategy estimates a $20.91 billion third-quarter gain on digital assets after three losing quarters.
Strategy’s bitcoin holdings reached a record 848,000 BTC on Sunday. The milestone caps a comeback from a summer in which the company sold coins to pay dividends.
In a Form 8-K filed Monday, Strategy said it bought 334 BTC between Oct. 1 and Oct. 4. It paid $28.7 million, or about $85,838.80 per coin, including fees. The buy was its smallest since purchases resumed in late August.
Strategy funded $15.7 million of the purchase by selling 92,894 shares of MSTR stock. The remaining $13.0 million came from its USD Cash balance. Notably, it sold no preferred stock through its at-the-market program during the period.
Strategy bitcoin holdings top the June peak
The new total beats the prior high of 847,363 BTC, reached on June 21. That earlier peak had capped a buying spree that added about 175,000 coins in under six months. Soon after, bitcoin slumped, and the company changed course.
On June 29, Strategy announced a BTC Monetization Program. The plan lets it sell coins, including to raise up to $1.25 billion for its dollar reserve. It then sold 3,588 BTC between June 29 and July 5 at average prices near $60,000.
Further sales followed in late July and early August. As a result, holdings bottomed at 840,447 BTC on Aug. 9, according to a later filing.
Since then, the company has added about 7,550 BTC across four purchases. That more than offsets the 6,916 BTC it sold over the summer. For the third quarter as a whole, holdings rose by a net 1,666 BTC. Overall, Strategy Bitcoin holdings have grown about 26% this year, from 672,500 BTC at the end of 2025.
The STRC buyback bill
The Bitcoin buy looked small next to another use of cash. Between Sept. 28 and Oct. 4, Strategy spent $176.3 million repurchasing 1,773,802 shares of its STRC preferred stock.
USD Cash covered $154.1 million of that total. Interest earned on cash and short-term investments covered the other $22.2 million. In the prior week, buybacks cost another $151.7 million.
Why buy back preferred stock? Management has said it will recommend holding STRC’s dividend rate at 12.00% until the shares trade steadily near $100. An Oct. 1 filing confirmed the 12.00% rate for periods starting Oct. 16. At that rate, each STRC share earns $0.50 per semi-monthly period.
Strategy still has $547.2 million left under its preferred buyback program. Meanwhile, dividends and interest drew $142.5 million from the USD Reserve during the week.
Even so, the reserve held $4.88 billion on Oct. 4, up from $2.55 billion on July 5. USD Cash stood at a further $833.4 million.
A $20.9 billion quarterly swing
Bitcoin’s rebound transformed the quarterly numbers. Strategy estimates a $20.91 billion gain on digital assets for the third quarter.
That follows three straight quarterly losses of $17.44 billion, $14.46 billion and $8.32 billion. The carrying value of Strategy’s bitcoin holdings rose to $70.82 billion on Sept. 30.
That move reflects Bitcoin’s climb from about $58,500 in late June to roughly $83,500 by Sept. 30.
Because fair value now exceeds cost, Strategy also released a $4.12 billion tax valuation allowance. That cut its estimated deferred tax expense to $1.88 billion.
Cost basis and share price
Strategy’s average cost is $75,440.70 per coin, or $63.97 billion in total. With bitcoin near $85,500 on Kraken Monday, the stack is worth about $72.5 billion.
That implies an unrealized gain of roughly $8.5 billion, or about 13%. In late June, by contrast, bitcoin fell below $59,000, deep under Strategy’s cost.
MSTR shares closed Friday at $160.01, nearly double their June 26 close of $82.31, Nasdaq data show. Over 52 weeks, MSTR has traded between $81.81 and $365.21. Strategy also has $18.8 billion of MSTR stock left to sell under its at-the-market program.
With 848,000 coins, Strategy now owns about 4.04% of bitcoin’s 21 million maximum supply.
What to watch next
First, watch whether STRC holds near $100, since steady trading there could let management revisit its 12.00% dividend rate. Next, follow the weekly 8-K filings. They show whether Strategy’s bitcoin holdings keep rising or whether the company sells again.
Finally, Strategy’s full third-quarter results will confirm or revise the estimated $20.91 billion gain. Until then, the record stack rests on a recovery that has lifted bitcoin about 46% since June 30.
