Strategy Buys Just 250 BTC as STRC Buybacks Hit $192M, 9x Its Bitcoin Spend

Author: Crypffalo Research · 20:54 12/10/2026

Strategy bought 250 BTC ($21.5M) from Oct 5–11, lifting holdings to 848,250 BTC, while spending $192.4M to buy back its STRC preferred stock.

Strategy Buys Just 250 BTC as STRC Buybacks Hit $192M, 9x Its Bitcoin Spend

Strategy, one of the largest corporate holders of bitcoin, said it bought 250 BTC between Oct 5 and Oct 11 for about $21.5 million. The average purchase price was $86,194 per coin.

In the same week, the company spent $192.4 million buying back its STRC preferred stock, roughly nine times what it put into bitcoin. The update was published on Oct 12 at around 12:00 UTC.

Key takeaways

Purchase: 250 BTC for about $21.5 million, averaging $86,194 per BTC.
Holdings: 848,250 BTC at a total cost of about $64 billion, or $75,444 per coin on average.
Notable shift: Stocktwits called it Strategy's smallest bitcoin buy of 2026, while STRC buybacks reached $192.4 million.
Funding: 125,183 MSTR shares sold for about $21 million, plus $0.5 million in cash.
Price context: BTC trades near $83,000, below Strategy's average purchase price for the week.

Inside the Oct 5–11 update

According to the Oct 12 disclosure, all 250 BTC were acquired between Oct 5 and Oct 11. Nearly all of the money came from selling MSTR common stock through the company's at-the-market (ATM) program.

Strategy sold no preferred shares (STRF, STRC, STRK or STRD) during the week. It also did not repurchase any MSTR common stock, even though $1 billion remains authorized for that purpose.

New bitcoin: 250 BTC, about $21.5 million.
STRC buyback: 1,932,145 shares, about $192.4 million.
Remaining STRC buyback capacity: about $354.8 million.
USD Reserve: $4.88 billion, plus $640.5 million in cash.

Strategy spent about 9x more on STRC buybacks than on bitcoin in the week of Oct 5–11

Why is Strategy prioritizing STRC?

STRC is a perpetual preferred stock with an adjustable dividend, designed to trade near its $100 par value. According to crypto.news, management aims to buy STRC back whenever it slips below $100 to keep it in the $99–$100 range.

In practice, the company is spending cash to defend its main fundraising instrument rather than stepping up bitcoin accumulation. The pattern is not new: in the week ending Sept 20, Strategy spent about $174 million on STRC buybacks versus $75.7 million on 950 BTC.

Executive chairman Michael Saylor posted his usual teaser, "There's always room for more orange," on Oct 11. The actual purchase, however, was far smaller than the multi-thousand-BTC buys the company made in earlier years.

What it means for crypto markets

In the short term, 250 BTC is too small to move the price, especially with bitcoin hovering around $83,000 amid a firm dollar and ETF outflows. What traders are watching instead is the signal it sends about one of the market's most reliable buyers.

Bull case: Once STRC stabilizes around par, Strategy could resume issuing preferred stock and accelerate bitcoin buying, as it has in past cycles.
Risk case: If the company keeps prioritizing STRC support while MSTR shares stay weak, its steady weekly bid, a key sentiment pillar, could remain muted for longer.

MSTR shares are down more than 50% over the past 12 months, according to Stocktwits. The fact that the week's average purchase price ($86,194) sits above the current BTC price also suggests most buying happened early in the week, before the slide toward $83,000.

What to watch next

Oct 14: US September CPI, with headline inflation expected around 3.7%, a key driver of rate expectations and BTC.
Next Monday: Strategy's next weekly update, and the split between BTC and STRC spending.
STRC price: A sustained move above $100 would make fresh issuance for bitcoin purchases more likely.
Track the economic calendar and real-time liquidations for market moves.

Frequently Asked Questions

How much bitcoin does Strategy own?

As of Oct 11, 2026, Strategy holds 848,250 BTC acquired for about $64 billion, or roughly $75,444 per coin.

What is STRC?

STRC is Strategy's perpetual preferred stock, which pays an adjustable monthly dividend and is designed to trade near its $100 par value.

Does a smaller Strategy purchase push bitcoin lower?

A small buy does not directly push prices down, but it removes part of a steady source of demand the market has come to expect each week.

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

Tags: Bitcoin, Strategy, MicroStrategy, STRC, Institutions

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