Strategy buys 267 BTC, spends $193M on STRC buyback, lifts limit to $3B

Author: Crypffalo Research · 21:54 19/10/2026

Strategy added 267 BTC ($22.1M) to reach 848,517 BTC, but spent nearly 9x that repurchasing STRC preferred stock and raised its buyback authorization to $3 billion.

Strategy buys 267 BTC, spends $193M on STRC buyback, lifts limit to $3B

Strategy, the listed company with a notable bitcoin treasury, said it bought 267 BTC for about $22.1 million during the week of Oct 12–18. Its stack now stands at 848,517 BTC.

The bigger story sits elsewhere in the filing. Strategy spent roughly $193.1 million buying back its STRC preferred stock, nearly 9x what it put into bitcoin, and lifted its preferred buyback authorization from $2 billion to $3 billion.

Key takeaways

Bitcoin bought: 267 BTC for about $22.1 million, at an average of roughly $82,900 per coin.
Total holdings: 848,517 BTC, acquired for about $64.02 billion, or roughly $75,446 per coin.
STRC buyback: About 1.94 million shares repurchased for roughly $193.1 million.
New limit: The preferred buyback program rises to $3 billion, with about $1.16 billion still available.
Funding: Sale of 140,872 MSTR shares for about $22 million in net proceeds; no preferred stock sold.

Inside the Oct 12–18 numbers

According to Monday's filing and Michael Saylor's post on X, the 267 BTC purchase was funded almost entirely through at-the-market sales of MSTR common stock. Strategy did not issue any STRF, STRC, STRK or STRD preferred shares during the week.

At the same time, the company repurchased about 1.94 million STRC shares worth around $193.1 million. It also drew about $45.5 million from its USD Reserve to pay preferred dividends.

USD Reserve: about $4.8 billion as of Oct 18.
Other USD cash: about $447 million.
Total USD assets: about $5.3 billion, down from roughly $5.5 billion a week earlier.

Bitcoin purchases vs. STRC buybacks over the last two weeks ($ millions)

Second straight week of buybacks over bitcoin

This is the second week in a row that Strategy has prioritized STRC repurchases over meaningful bitcoin accumulation. In the Oct 5–11 week, it bought 250 BTC for about $21.5 million while spending roughly $192.4 million on STRC.

The extra $1 billion in buyback capacity suggests the company wants to keep supporting its preferred shares. Those securities have been Strategy's main funding channel for bitcoin purchases over the past year.

The backdrop is also tougher. MSCI recently finalized index rules that put Strategy and other crypto treasury firms at risk of exclusion, weighing on the sector's shares.

What it means for crypto markets

Bitcoin traded around $82,000–$83,000 on Oct 19 and barely reacted to the update. A 267 BTC purchase is small relative to daily market volume.

Bull case: Stabilizing its preferred stock keeps Strategy's funding engine intact, which could let it return to larger bitcoin purchases when conditions improve.
Risk case: If cash keeps going to buybacks and dividends, demand from this major corporate buyer stays weak at a time when spot bitcoin ETFs are also seeing outflows.

With an average cost of about $75,446 per coin, Strategy's position remains roughly 9% in the green at current prices.

What to watch next

Oct 29 (after U.S. close): Strategy reports Q3 2026 earnings.
Every Monday: the next bitcoin purchase and buyback disclosure.
Bitcoin ETF flows: whether the recent outflow streak extends into this week.
Check the economic calendar and real-time liquidations for this week's moves.

Frequently Asked Questions

How much bitcoin does Strategy hold?

As of Oct 18, Strategy holds 848,517 BTC acquired for about $64.02 billion. That is roughly 4% of bitcoin's 21 million maximum supply.

What is STRC and why is Strategy buying it back?

STRC is a dividend-paying preferred stock Strategy issues to raise money for bitcoin. Buying it back supports the share price and keeps that funding channel working.

Does Strategy's smaller buying pressure hurt bitcoin's price?

The small purchase itself does not create selling pressure. However, weaker demand from Strategy removes one large source of buying in the near term.

*This content is for information only and is not financial advice.*

Tags: Strategy, Bitcoin, MSTR, STRC, Michael Saylor

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