Strategy Adds 250 Bitcoin for $21.5M as Preferred Stock Buybacks Accelerate

Strategy Inc (NASDAQ:MSTR) purchased 250 Bitcoin between October 5 and October 11 for $21.5 million, paying an average price of $86,194 per coin including fees. The transaction pushed the enterprise's total digital currency treasury to a record 848,250 Bitcoin, with a total cost basis near $64 billion and an average price of $75,444 per token. To fund the purchase, the firm raised $21 million by selling roughly 125,000 common stock shares through an at-the-market offering and drew $500,000 from cash reserves.

While Strategy Inc continues expanding its treasury, its pace of token acquisition has moderated for two straight weeks, down from $29 million spent the prior week. Instead, capital allocation shifted heavily toward share repurchases. The business bought back 1.93 million shares of its Stretch (NASDAQ:STRC) preferred stock for $192.4 million, accelerating from $176.3 million spent the previous week. This shift highlights a focus on capital structure management alongside token accumulation.

Investors should monitor how Strategy Inc balances future crypto acquisitions against preferred share repurchases, given that $354.8 million remains open under its STRC buyback authorization. With $4.88 billion set aside in a U.S. dollar reserve to cover preferred dividends and interest alongside $640.5 million in liquid cash, the company maintains substantial capital to deploy across both strategies.