Strategy adds 1,036 bitcoin for $81.9 million as holdings slip below cost

Strategy, the business intelligence firm led by Executive Chairman Michael Saylor, purchased an additional 1,036 bitcoin last week at a total cost of $81.9 million. The company disclosed that it acquired the new coins at an average price of $79,012 per bitcoin between November 2 and November 8, according to a Monday 8-K filing. This latest acquisition increases Strategy’s total bitcoin holdings to 850,364 BTC, acquired for $64.16 billion at an average cost of $75,456 per coin.

Funding and financial moves

Strategy funded its latest round of bitcoin purchases using proceeds from a recent sale of MSTR common stock. The company sold approximately 2.05 million shares for $283.8 million. Of this sum, $81.9 million was allocated to bitcoin acquisition, $188.3 million went toward repurchasing the company’s STRC preferred shares, and $13.6 million was retained in USD cash. The firm stated that no preferred stock was sold under its at-the-market (ATM) offering during the reported week.

The $188.3 million set aside for STRC buybacks allowed Strategy to retire approximately 1.89 million shares. After this transaction, the company still has authorization to repurchase an additional $560.3 million worth of STRC and up to $1.0 billion under its MSTR share buyback plan, with $18.3 billion of MSTR remaining available under its ATM program.

Michael Saylor posted an update on X stating, “Strategy has acquired 1,036 $BTC and repurchased $188M of $STRC. As of 11/8/26, we hold 850,364 BTC and $4.9B of USD Assets.”

Strategy highlighted that as of November 8, it held 850,364 bitcoin and $4.9 billion in USD assets, underscoring its continued commitment to increasing both digital and dollar reserves.

Saylor also shared his recurring “dots” tracker chart on social media, a post often seen before official buy announcements. This update followed a weekend dip in bitcoin’s price, which approached $74,000, marking its lowest level since August.

Bitcoin price and shifting buy strategies

At the time of filing, the spot price of bitcoin was trading close to $74,800—about 0.9% below Strategy’s overall average cost of $75,456. This places the company’s bitcoin holdings approximately $550 million underwater on paper. The latest purchase increased Strategy’s average bitcoin acquisition cost by just $5, as the recent coins were bought at nearly $79,000 each. In comparison, the previous week’s average cost per bitcoin was $75,451.

Strategy’s public ledger confirms that this is not the first time the company has carried such a small buffer over its cost basis. Between late June and mid-August, the firm sold bitcoin in four consecutive weeks to cover preferred dividends and STRC buybacks. During that period, the bitcoin balance fell to 840,447 BTC, but has since been replenished, currently accounting for over 4% of bitcoin’s total 21 million supply cap.

The pace of accumulation has slowed since the summer. The company acquired 811 bitcoin the week prior to the most recent purchase and did not buy any bitcoin during the week of October 19 to 25, focusing instead on STRC buybacks funded from existing USD cash reserves.

STRC buybacks and daily dividends

STRC, a preferred share designed to trade at $100 par value, has been a focus of Strategy’s recent capital allocation. The company has bought back more than $2 billion worth of STRC in 2026 as the shares fluctuated near par, and shareholders recently approved the introduction of daily dividends for several preferred share classes, including STRC. Daily accruals for STRC started November 1.

In the most recent transactions, preferred buybacks received more funds than bitcoin purchases: $188.3 million went to STRC buybacks compared to $81.9 million for bitcoin. This has become common since Strategy increased its USD Reserve and USD Cash holdings this summer. In July, a similar pattern emerged, with the company pairing bitcoin buys with even larger STRC repurchases, using cash on hand rather than new stock sales.

As of November 8, Strategy recorded $4.77 billion in its USD Reserve and $146.2 million in USD Cash. The company utilized $21.1 million from the reserve to pay preferred dividends during the week. The SEC 8-K remains the official disclosure, and the company maintains transparency by posting figures on its public dashboard.

Shares of MSTR ended the week at $128.93 after a challenging period that saw a 9% decline leading up to October 30. Pre-market data signaled continued weakness. Bitcoin traded near $74,800 as of the latest update, based on data from Bitcoin Magazine Pro. Market watchers are assessing whether Strategy will continue acquiring bitcoin during this period when holdings are below cost, or if it will emphasize preferred buybacks as the ATM facility remains active.

Mini dictionary: STRC – Strategy’s preferred equity share, traded close to its $100 par value, often used by the company as a financial tool for raising capital or returning value through buybacks and dividends independent of its common stock.