The company continues its pattern of funding BTC purchases via MSTR ATM sales while simultaneously reducing STRC preferred stock outstanding. The large USD Reserve ($4.88B) provides ample dividend and interest coverage. Monitor the pace of MSTR ATM usage and any further STRC repurchases as signals of capital allocation priorities.
Price Chart
Executive Summary
Strategy Inc disclosed weekly capital management updates: it purchased 250 BTC for $21.5 million (funded via $21.0M in MSTR ATM sales and $0.5M from USD Cash), bringing total BTC holdings to 848,250 BTC at an aggregate cost of $64.00 billion. Separately, the company repurchased 1,932,145 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for $192.4 million. The USD Reserve stood at $4.88 billion and USD Cash at $640.5 million as of October 11, 2026. No MSTR common stock was repurchased.
Key Facts
- Purchased 250 BTC at an average price of $86,194 per BTC, for a total of $21.5 million.
- Total BTC holdings as of October 11, 2026: 848,250 BTC at an aggregate purchase price of $64.00 billion (avg. $75,444 per BTC).
- Repurchased 1,932,145 shares of STRC (Variable Rate Series A Perpetual Stretch Preferred Stock) for $192.4 million.
- No MSTR common stock was repurchased; $1.0 billion remains available under the MSTR stock repurchase program.
- USD Reserve balance: $4.88 billion; USD Cash balance: $640.5 million as of October 11, 2026.
- No sales of STRF, STRC, STRK, or STRD preferred stock under the ATM program during the period; $21.0 million in MSTR stock was sold via ATM.
Financial Impact
BTC acquisition of $21.5 million and STRC repurchase of $192.4 million; total capital deployed ~$213.9 million during the week.
Risk Factors
- Continued ATM issuance of MSTR common stock dilutes existing common shareholders.
- Bitcoin price volatility directly impacts the value of the company's primary asset.
- Preferred stock repurchases reduce the equity cushion supporting the preferred dividend structure.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-419726 |
| Document: mstr-20261012.htm | 0001193125-26-419726 |
| Document: 0001193125-26-419726-index-headers.html | 0001193125-26-419726 |
| Document: 0001193125-26-419726-index.html | 0001193125-26-419726 |
| Document: 0001193125-26-419726.txt | 0001193125-26-419726 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | DEFA14A | $139.82 | awaiting T+5 | — | $139.82 (+0.00%) |
Oct 26, 2026 today | 8-K | $143.54 | awaiting T+5 | — | $139.82 (−2.59%) |
Oct 21, 2026 5d ago | Institutional Cluster | $145.80 | awaiting T+5 | — | $139.82 (−4.10%) |
Oct 20, 2026 6d ago | DEFA14A | $153.48 | awaiting T+5 | — | $139.82 (−8.90%) |
Oct 20, 2026 6d ago | DEFA14A | $142.72 | awaiting T+5 | — | $139.82 (−2.03%) |
Oct 19, 2026 7d ago | DEFA14A | $142.72 | awaiting T+5 | — | $139.82 (−2.03%) |
Oct 19, 2026 7d ago | DEFA14A | $136.02 $139.82 | ▲ +2.79% | ▲ +2.94% | $139.82 (+2.79%) |
Oct 19, 2026 7d ago | 8-K | $136.02 $139.82 | ▲ +2.79% | ▲ +2.94% | $139.82 (+2.79%) |
Oct 16, 2026 10d ago | DEFA14A | $136.02 $139.82 | ▲ +2.79% | ▲ +2.94% | $139.82 (+2.79%) |
Oct 16, 2026 10d ago | DEFA14A | $136.83 $146.01 | ▲ +6.71% | ▲ +7.14% | $139.82 (+2.19%) |
US Market Status
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