Strategy resumes bitcoin buying with 811 BTC purchase after one-week pause

What happened

Strategy has resumed adding bitcoin to its balance sheet, purchasing 811 BTC for approximately $65.5 million last week, according to an SEC filing and company statements reported by Decrypt and CryptoPotato. The buying window ran from October 26 to November 1, and the company paid an average of $80,846 per coin.

The purchase followed a one-week pause, the first break in Strategy's bitcoin accumulation since mid-September. In the week before the pause, the company had bought 267 BTC for $22.1 million.

Strategy funded the latest acquisition in part by selling 1,178,552 MSTR shares, which generated $164 million in net proceeds. Of that amount, $65.5 million went toward bitcoin and $98.5 million was directed to the company's USD Cash account.

Alongside the bitcoin buy, Strategy repurchased 2,092,035 shares of STRC, its variable-rate preferred stock, for $208.2 million. The company said that transaction was paid entirely from USD Cash.

Why it matters

Strategy remains the largest corporate holder of bitcoin, and its weekly disclosures are closely watched as a signal of how a major treasury company is balancing bitcoin exposure against liquidity and preferred-stock obligations. The resumption of purchases after a brief pause shows the company is still willing to add coins, though the size of the buy was smaller than some earlier purchases.

The simultaneous STRC buyback also points to a broader capital-allocation strategy in which Strategy manages its preferred stock and cash reserves alongside its bitcoin position. According to CryptoPotato, STRC's price had recovered to within less than 1% of its $100 par level around the time of the repurchase.

What the data shows

Bitcoin bought: 811 BTC for about $65.5 million, at an average of $80,846 per coin. Total holdings: 849,327 BTC, acquired for roughly $64.08 billion at an average of about $75,451 per coin. MSTR shares sold: 1,178,552, raising $164 million in net proceeds. STRC shares repurchased: 2,092,035 for $208.2 million. USD Cash: $132.7 million, down from $242.4 million. USD Reserve: $4.79 billion after $43.4 million in dividends. Combined USD assets: $4.9 billion.

Background

Strategy's bitcoin holdings now stand at 849,327 BTC, acquired for a total of about $64.08 billion at an average price of roughly $75,451 per coin, per the filing. The company reported combined USD assets of $4.9 billion and described its "USD Duration", a measure of how long those assets could cover dividends and interest, as 3.3 years.

The USD Cash pool, which Strategy uses for general purposes including bitcoin purchases, declined to $132.7 million from $242.4 million a week earlier. Its separate USD Reserve, intended to cover preferred dividends and interest on debt, stood at $4.79 billion after $43.4 million in dividend payments. About $748.6 million remains available under the company's preferred stock repurchase program.

The purchases came as STRC transitions to a new dividend schedule. Shareholders approved daily dividends on Strategy's four preferred stocks last week, with STRC's first daily record date falling on November 1, according to Decrypt.

What to watch

Mizuho Financial Group kept an Outperform rating and a $165 price target on MSTR after Strategy's third-quarter earnings call, citing a stronger balance sheet with net leverage down to 2.4% from 8.4%, according to a summary of the note reported by Decrypt. Analyst Dan Dolev also raised dilution concerns, noting that bitcoin per share has declined 3.7% this year.

Strategy also faces a possible removal from MSCI's equity indexes under a rule the index provider finalized in October that treats companies dominated by a single asset as ineligible. MSCI is scheduled to publish the list of affected companies on November 11. Separately, CryptoPotato reported that long-serving CFO Andrew Kang will depart on November 5.

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