Strategy buys 811 bitcoin for $65.5 million after a quiet week, then spends $208 million on STRC buybacks

Strategy Inc said Monday that it bought 811 bitcoin between October 26 and November 1 for $65.5 million, an average of $80,846 per coin, according to its Form 8-K filed with the SEC. The filing puts total holdings at 849,327 BTC, bought for $64.08 billion at an average of $75,451 per coin, fees included.

What the "another buy" hints amounted to

Bitcoin video channels have spent days telling viewers that Strategy's chairman had signaled another purchase. The filing confirms one, and it is small. 811 coins is about 0.1% of the stack, and it follows a week in which Strategy bought nothing. Its October 26 filing said it sold no shares and neither bought nor sold bitcoin from October 19 to 25, with holdings at about 848,517 BTC.

One small oddity: 848,517 plus 811 is 849,328, one coin more than the new total of 849,327. The filing does not explain the difference, and we are reporting its figure.

The number behind the number: the preferred buyback

The larger cash outlay was not bitcoin. Strategy repurchased 2,092,035 shares of its variable-rate STRC preferred stock for $208.2 million, about 3.2 times what it spent on bitcoin. Dividing the two filing figures gives an average repurchase price of about $99.52 a share (our calculation), close to the $100 par value STRC is designed to trade around. The company said $748.6 million remains available under its preferred repurchase program.

The funding split matters. Strategy sold 1,178,552 shares of its common stock (MSTR) for $164.0 million in net proceeds. Only $65.5 million of that, about 40%, went to bitcoin. The other $98.5 million was added to USD cash. The STRC buyback was paid from that cash, which the filing says covered $208.2 million of repurchases. The USD cash balance stood at $132.7 million on November 1, and the separate USD reserve, which backs preferred dividends and debt interest, was $4.79 billion after $43.4 million was used for dividends this week.

Where the position stands

Bitcoin traded at about $77,700 on Coinbase this morning. At that price the 849,327 coins are worth roughly $66.0 billion, about 3% above the $64.08 billion cost (our arithmetic, using Coinbase's last price). This week's purchases, at $80,846, are above the current price. Bitcoin is also about 29.8% below its high of the past 12 months, per our chart.

Why it matters

For months the question around Strategy has been how much it can buy. This filing shows another question: where marginal dollars go when the preferred stock trades near par. Weekly bitcoin purchases are funded by selling common stock, and in the last two filings the bigger cash use was the preferred stock. Readers tracking it as a buyer of bitcoin should read the whole filing, not only the coin count. The MSCI index review covered here is a separate November 11 date for the stock.

The videos' larger claims, including seven-figure bitcoin prices and what other companies might buy, are opinions that we cannot verify. See live prices on our crypto prices page.

Sources: Strategy Inc Form 8-K, November 2, 2026; Form 8-K, October 26, 2026 (SEC EDGAR); Strategy filings on SEC EDGAR; Coinbase Exchange BTC-USD stats. Information, not investment advice.