Strategy purchased 267 Bitcoin for $22.1 million between October 12 and October 18, 2026, at an average price of $82,900 per BTC. The purchase brings Strategy’s total Bitcoin holdings to a record 848,517 BTC, up from 848,250 BTC as of October 11. With this latest addition, Strategy now controls approximately 4.04% of Bitcoin’s maximum 21 million coin supply limit.
However, that crypto outlay pales in comparison to Strategy’s maneuvers in the equity market. Over the same timeframe, Strategy allocated $193.1 million to repurchase 1,938,780 shares of its STRC preferred stock - nearly nine times the amount spent on Bitcoin.
Buying Preferred Stock Below Par Value
STRC is a preferred stock with a par value of $100 per share. Strategy aggressively bought back the shares while market prices traded below par. The move aligns with the company’s capital allocation pattern throughout the fourth quarter of 2026: Strategy spent $459.2 million on STRC buybacks, compared to $72.3 million to accumulate 851 BTC.
The ceiling for this digital credit securities buyback program has even been raised to $3 billion. To fund its latest 267 BTC acquisition, Strategy sold 140,872 shares of MSTR common stock for $22 million, covering the remainder with $0.1 million in internal cash. This week’s Bitcoin accumulation was relatively modest compared to several major acquisitions Strategy completed earlier in 2026.
Saylor’s Signal and New MSCI Rules
Before the 267-coin purchase was confirmed, Michael Saylor dropped a hint on social media platform X on Sunday, posting “We found room for more orange.” Saylor reaffirmed his confidence while speaking at ParaFi Investor Day on Saturday. “We are moving back into a bull market,” Saylor said, pointing to Bitcoin’s price recovery back above its 200-day moving average.
Beneath the founder’s optimism, Strategy faces the risk of exclusion from global equity indexes. On October 15, MSCI finalized new rules stipulating that “non-operating companies” - corporations whose balance sheets are dominated by a single asset - will not be included in the MSCI Global Investable Market Indexes starting November 30. The list of affected companies will not be announced until November 11.
$4.83 Billion Cash Reserve and November Announcement
To bolster its financial structure beyond Bitcoin holdings, Strategy maintains a separate $4.83 billion USD Reserve earmarked to support preferred dividend payouts and debt interest payments. In addition to that dividend reserve, the company retains another separate pool of $447.3 million in USD Cash.
For MSTR common stockholders and STRC investors alike, the multi-billion-dollar reserves paired with below-par share repurchases underscore Strategy’s balance sheet management beyond cryptocurrency price swings. In the near term, however, market attention remains fixed on November 11, when MSCI releases the official list of companies facing index exclusion.
Reported by crypto.news.
Read also: What Is Bitcoin Halving?
Previously: Saylor Signals Bitcoin Buy at $81,000 - But Strategy’s Biggest Purchase Last Week Wasn’t Crypto
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
