Strategy Buys Back $204.9 Million of STRC Shares, Makes No Bitcoin Purchases During the Week
Key Facts
Strategy bought back $204.9 million worth of STRC shares from October 19 to 25 and neither bought nor sold bitcoin during the same period, according to a company filing on October 26. STRC was the only class for which the company recorded repurchases, and it also made no share sales through its at-the-market program. Strategy funded the transaction from its USD Cash balance, which stood at $242.4 million on October 25. On the same date, its separate USD Reserve balance stood at $4.83 billion. The filing shows available cash being directed toward preferred-share repurchases while the company’s bitcoin holdings remained unchanged during the week.
Available cash serves a different purpose from the dollar reserve under the company’s stated policy. Strategy said the reserve is intended to support preferred-share distributions and interest on outstanding debt. USD Cash, by contrast, is held for general purposes, which may include bitcoin purchases and capital management. The amount used to repurchase STRC was about $204.9 million, against a cash balance of $242.4 million on October 25. These balances remain separate from the funds available under the securities and share repurchase programs.
After the week’s transactions, $956.8 million remained available under the digital credit securities repurchase program, and $1 billion under the MSTR share repurchase program. The cap on the credit securities repurchase program had been raised to $3 billion in Strategy’s filing for the week ended October 18. In that filing, the company said it bought 267 bitcoin and repurchased about $193 million of STRC. In the latest week, however, it reported no bitcoin purchases or sales, and the only recorded repurchases were of STRC. Spending on STRC repurchases rose from the previous week, when it was $193.1 million, and the week before that, when it was $192.4 million.
Strategy held 848,517 bitcoin on October 25, at a total acquisition cost of $64.02 billion and an average cost of $75,446 per coin, including fees and expenses. The figures show the continued scale of the company’s portfolio despite no bitcoin being added during the week covered by the filing. EL7 data recorded bitcoin’s close at $81,189.43 on October 23 and $80,154.09 on October 25. EL7 data also recorded MSTR shares closing at $146.01 on October 23. The Block reported that the stock fell 6.9% during the week ended October 23 and closed at $146.02, while estimating bitcoin’s decline over the same period at 1.1%.
The filing comes as MSCI considers the eligibility of some non-operating companies for inclusion in investable market indexes. Under the rule announced by MSCI, a security becomes ineligible if four or more of the five indicators in the exclusion screen are identified. Existing constituents, however, will be removed only if they fail the screen in both of the latest two annual disclosure periods. MSCI is scheduled to publish the final list of affected constituents on November 11, 2026. Changes from the November review take effect at the close on November 30, 2026, while the filing did not specify a final outcome for Strategy.