Strategy Raises Holdings to 849,327 Bitcoin at an Average Cost of $75,451
Key Facts
Strategy held 849,327 bitcoin at an average acquisition cost of $75,451 per coin, according to the company’s holdings record published on November 2, 2026. The company added 811 bitcoin from October 26 to November 1, at an average purchase price of $80,846 per coin. The holdings record valued those purchases at $66 million. The figures come as the market awaits the results of an MSCI review that could determine the index eligibility of companies with large digital asset holdings. MSCI is scheduled to publish its final list of affected companies on November 11, with changes taking effect at the close on November 30.
Third-quarter 2026 results showed net income of $19.53 billion and diluted earnings of $44.75 per share, compared with net income of $2.79 billion and earnings of $8.42 per share in the same period of 2025. Net income attributable to common shareholders, however, was $19.12 billion after accounting for $419.6 million in preferred stock dividends. In the third quarter of 2025, net income attributable to common shareholders was $2.65 billion, after dividends of $139.9 million. The company attributed most of the improvement to digital asset gains, with operating income at $20.91 billion versus $3.89 billion a year earlier. Quarterly revenue, by contrast, fell 3% to $125.4 million from $128.7 million.
The results reflect the sensitivity of earnings to changes in the value of its bitcoin holdings, which remained the main driver of the quarter’s figures, while business revenue was below its level a year earlier. Strategy also said its stock rose 76% in the third quarter, compared with a 43% gain in bitcoin over the same period. Announced bitcoin purchases totaled $14.33 billion from the start of 2026 through October 25, while the company’s bitcoin yield metric stood at negative 3.7% year to date through that date. The company had paid $1.48 billion in cumulative dividends on its preferred stock by the results announcement on October 29. It said the STRC dividend rate remained at 12.00% to support trading near its stated value of $100.
On liquidity, Strategy’s dollar reserve stood at $4.79 billion, and its dollar cash balance was $132.7 million on November 1, according to figures The Block cited from the company. Strategy said it had sold about $431.8 million of bitcoin since the start of 2026 to fund part of its preferred stock dividends and repurchase STRC shares. It also authorized its board to sell up to $1.25 billion in bitcoin to fund the dollar reserve.
Attention is also focused on MSCI’s new methodology for non-operating companies, announced on October 15 as part of its November review. Under the methodology, failing the operational assets test is required for a company to fail the ineligibility test, followed by the company being flagged on at least four of five financial ratios. Companies already in the index will be removed only if they fail the ineligibility test in the two most recent annual reporting periods. Strategy said funds tracking MSCI’s global indexes own 3.1% of its basic shares outstanding, and described the proposal as having little impact on it. These criteria alone do not determine whether the company will appear on the final list of affected companies.
MSCI is scheduled to release the results of its November review after 11 p.m. Central European Time on November 11, with all changes taking effect at the close on November 30. In trading, MSTR closed at $128.93 on November 6, after $129.30 on November 5 and $142.54 on November 4, according to EL7 data. Bitcoin had fallen 6% to $75,000 on November 5, alongside a 5.5% decline in the Nasdaq and a 4.4% drop in the S&P 500, according to a Reuters summary. The next day, the S&P 500 rose 0.3% but ended the week down 2.7%, while the Nasdaq gained 1.1%, according to the Associated Press. Strategy also set the start of daily STRC dividends for November 1, 2026, and for STRF, STRK and STRD for January 1, 2027.