Michael Saylor’s Strategy Buys 334 Bitcoin for $28.7 Million

Strategy bought 334 bitcoin for $28.7 million between October 1 and October 4, 2026. Its average purchase price was $85,838.8 per bitcoin.

By 4 p.m. Eastern Time on October 4, the company held 848,000 bitcoin. Those holdings had an aggregate purchase price of $63.97 billion and an average price of $75,440.7 per bitcoin, including fees and expenses. Strategy disclosed the figures in its October 5 SEC filing.

The $73.7 Million Buyback Was for Preferred Stock

During the same October 1 to October 4 period, Strategy repurchased 740,634 shares of its STRC Variable Rate Series A Perpetual Stretch Preferred Stock for $73.7 million. The company did not repurchase any MSTR common shares during the period.

Strategy also used $15.7 million in net proceeds from MSTR stock sales to fund its $28.7 million Bitcoin purchase. The remaining $13.0 million came from its USD Cash pool.

This makes the capital allocation during the period clearer: Strategy continued adding Bitcoin while directing a larger amount toward its preferred-stock buyback program.

Why Buybacks Were So Much Larger

The full September 28 to October 4 period makes the difference clearer. Strategy spent:

• $154.1 million in USD Cash to repurchase STRC preferred stock
• $13.0 million in USD Cash to buy bitcoin

The STRC repurchases included $102.6 million from September 28 to September 30 and $73.7 million from October 1 to October 4. No bitcoin was bought during the first period.

Strategy maintains separate pools for these purposes. Its USD Reserve is intended to cover preferred dividends and debt interest. USD Cash is available for broader uses, including bitcoin purchases and capital management. During the full period, it also used $142.5 million from its USD Reserve to pay preferred dividends and debt interest.

That funding structure explains how more cash went toward STRC repurchases than bitcoin purchases. It does not reveal the company’s decision-making behind the imbalance. The filing doesn’t state a reason for spending $154.1 million on preferred-stock buybacks while using $13.0 million of cash on bitcoin during the same period.

As of October 4, Strategy had $833.4 million in USD Cash and a $4.88 billion USD Reserve. Its remaining preferred-stock repurchase authorization had fallen to $547.2 million. The company had also left $1.0 billion available under its MSTR common-stock repurchase program.