Strategy adds 1,036 BTC as STRC buybacks reach $1.06B

By Elena Vasquez

Strategy spent $81.9 million to buy 1,036 Bitcoin last week, lifting its holdings to 850,364 BTC, according to a Monday filing with the US Securities and Exchange Commission. The company paid an average of $79,012 per coin, following its purchase of 811 BTC for $65.5 million the previous week.

How large is Strategy's Bitcoin position?

Strategy said it had paid $64.16 billion in total for its Bitcoin at an average price of $75,456 per coin. Its holdings now represent roughly 4.05% of Bitcoin's maximum supply of 21 million, or about four coins in every 100 the protocol can ever issue.

The $79,012 weekly average exceeded Strategy's accumulated average cost. Neither measure establishes the current market value of the position, and the filing did not provide transaction-level prices or purchase dates; it identified the submission only as Monday's. In practical terms, the purchase expands the holding, but it does not reveal the execution profile behind the weekly average.

Where did the money come from?

Strategy generated $283.8 million in net proceeds last week by selling about 2.05 million MSTR common shares through its at-the-market offering program. It used $188.3 million of those proceeds to repurchase about 1.89 million STRC preferred shares. Another $81.9 million funded Bitcoin, while $13.6 million went to the USD Cash balance.

These three uses total the reported $283.8 million in net proceeds, so the weekly financing arithmetic balances. The excerpt does not disclose the average common-share sale price or quantify the resulting dilution. In plain terms, the offering funded a one-week mix of share retirement, Bitcoin accumulation and cash allocation rather than leaving the new capital idle.

Why did buybacks outpace Bitcoin purchases?

Since the start of October, Strategy had spent about $1.06 billion on STRC repurchases, nearly five times the $219.7 million spent on Bitcoin over the same period. The $188.3 million transaction also followed $208.2 million of STRC buybacks in the previous week.

No forward repurchase target or explanation for management's preference appears in the filing summary. Buying back STRC reduces the preferred-share count on which dividends would otherwise be paid, although the excerpt does not quantify the resulting savings. The clearest signal is capital allocation: STRC repurchases absorbed nearly five times as much capital as Bitcoin purchases since October, without establishing a formal end to accumulation.

How did liquidity balances change?

Strategy's separate US dollar reserve fell to $4.77 billion from $4.79 billion after the company withdrew $21.1 million to pay preferred-stock dividends. Its USD Cash balance rose about 10%, from $132.7 million to $146.2 million.

The two measures moved in opposite directions and should not be combined into a single liquidity figure. Both reported balances nevertheless remained substantial after the dividend draw, although the filing does not define the reserve's composition or management's target balance.

What did shareholders approve?

A related Strategy report said shareholders approved daily dividends for four preferred stocks. The approval creates recurring payment obligations across four preferred-stock classes, while share repurchases can reduce the associated payment base for the securities retired.

The cited figures provide no rates, effective dates or dividend amounts, so the net annual cost cannot be calculated. The practical point is that dividend approval and repurchases can move the preferred-share base in opposite directions, leaving the net financial effect unresolved.

How did the securities trade?

MSTR common stock fell 3% to $125 in Monday's premarket trading, while STRC preferred shares edged down 0.06% to $99.7, according to Yahoo Finance. The filing does not connect either move to the capital allocation, and the quotations provide only a point-in-time market snapshot. In practical terms, the price data cannot establish whether investors viewed the Bitcoin purchase as positive or negative.

Strategy's next weekly disclosure should show whether the company sustains its preference for STRC repurchases and whether its 850,364 BTC position remains the main destination for new capital. Until then, the record supports a financing tilt toward preferred-share retirement, not a firm conclusion about future Bitcoin buying.