Strategy buys 267 bitcoin for $22.1 million, spends $193.1 million on STRC buybacks and raises the program to $3 billion
The filing behind Sunday's "more orange" hint shows a small bitcoin purchase, a preferred buyback nine times larger, and a board decision to add $1 billion of room for more buybacks. Holdings are now 848,517 BTC.
Strategy Inc said Monday that it bought 267 bitcoin between October 12 and October 18 for $22.1 million, an average of $82,900 per coin, according to its Form 8-K filed with the SEC. That lifts its total to 848,517 BTC. The same filing says it spent $193.1 million repurchasing 1,938,780 shares of its STRC preferred stock, and that its board raised the preferred repurchase program from $2.0 billion to $3.0 billion.
What the hint turned out to be
Crypto video channels spent the weekend treating a Sunday post from Strategy's chairman, "we found room for more orange," as a sign of a big purchase. The filing confirms a purchase, and it is small: 267 coins is about 0.03% of the stack. The figure those videos quoted, 848,250 coins, was last week's total (we covered it in last week's 8-K story), not the new one. Their comparison to the 21 million coin cap does hold up: 848,517 coins is about 4.04% of it.
The number behind the number
The preferred buyback was 8.7 times the size of the bitcoin purchase ($193.1 million against $22.1 million). Dividing the two figures in the filing gives an average STRC repurchase price of about $99.60 a share, close to the $100 par value the stock is designed to trade around. We calculated that ourselves.
The funding split is in the filing. The bitcoin was paid for with $22.0 million of net proceeds from selling 140,872 shares of common stock (MSTR), plus $0.1 million of USD cash. The $193.1 million buyback came out of USD cash, which fell from $640.5 million a week earlier (per last week's filing) to $447.3 million. The separate USD reserve, which backs preferred dividends and debt interest, went from $4.88 billion to $4.83 billion after $45.5 million of dividend payments.
The repurchase authorization is the newest piece. Last week $354.8 million remained under the program; this week's buyback used $193.1 million, and the $1.0 billion increase leaves $1.16 billion available as of October 18. The company also has $1.0 billion available for repurchasing its common stock, and bought none this week.
Where the position stands
The 848,517 coins cost $64.02 billion in total, an average of $75,446 each. Bitcoin last traded at about $82,362 on Coinbase this morning, which values the stack at roughly $69.9 billion, about 9.2% above cost. This week's purchases, at $82,900, sit slightly above the current price.
Why the MSCI question matters here
The videos also pointed to index provider MSCI considering the removal of bitcoin treasury companies. That is real and we covered the details separately: MSCI's non-operating company rule and the November 11 final list. The link to this filing is practical. A company that keeps spending most of its weekly cash on defending its preferred stock, while funding bitcoin from small common stock sales, is showing which of its two goals currently gets priority. Whether that continues is not something the filing can tell us.
The price claims in the same videos, including bitcoin reaching seven-figure levels, are opinions and not something we can verify. The coin counts, dollar amounts and dates above are from the filing.
See live prices on our crypto prices page.
Sources: Strategy Inc Form 8-K, October 19, 2026 (SEC EDGAR); Strategy filings on SEC EDGAR; Coinbase Exchange BTC-USD stats. Information, not investment advice.
Want your business to be the answer?
Get a full package of articles about your business, built so customers, Google and AI assistants can find you.