MicroStrategy Adds Just 334 BTC, Puts 6x More Into Stock Buybacks

MicroStrategy, now operating under the name Strategy, acquired merely 334 Bitcoin (BTC) for $28.7 million over the past week. During the same period, it allocated $176.3 million to repurchasing its own preferred stock — roughly six times the amount spent on bitcoin.

The purchase brings total holdings to exactly 848,000 BTC, as disclosed in a Monday filing with the US Securities and Exchange Commission (SEC). This marks a third consecutive weekly acquisition, yet it is only one-fifth the size of the prior week's 1,665 BTC.

Why Is Strategy Buying Back Stock Instead of Bitcoin?

The filing indicates that Strategy repurchased approximately 1.77 million shares of Stretch (STRC). That preferred stock carries a 12% annual dividend for investors.

The bulk of the funding came from USD Cash, a dollar pool maintained for general corporate purposes. Strategy drew $154.1 million from that pool for buybacks and just $13 million for bitcoin purchases.

Strategy reports a $21 billion gain on digital assets in Q3 2026. Last week, we acquired 334 $BTC and repurchased $176M of $STRC. As of 10/4/26, we hold 848,000 BTC and $5.7B of USD Assets. $MSTR

— Strategy (@Strategy) October 5, 2026

The remaining $15.7 million for bitcoin came from the sale of 92,894 newly issued MSTR common shares.

Last week, Strategy stated it would maintain STRC's 12% rate until the stock trades consistently near its $100 issue price.

Meanwhile, gold advocate Peter Schiff argued over the weekend that Strategy has lost its Bitcoin-buying power because STRC no longer raises fresh money.

MicroStrategy Books a $20.9 Billion Bitcoin Gain for the Quarter

The same filing estimates that MicroStrategy recorded a $20.91 billion gain on its bitcoin holdings in the third quarter.

At the end of June, the bitcoin it held was worth less than its cost. The subsequent rebound allowed Strategy to reverse a $4.12 billion tax asset tied to that earlier loss.

At the current Bitcoin price of about $86,138, its stash is worth roughly $72.4 billion. Strategy paid $63.97 billion in total, or $75,441 per coin.

The company also holds a $4.88 billion USD Reserve for dividends and interest, plus $833.4 million in USD Cash.

Shareholders vote on October 28 on a plan to pay daily dividends across its four preferred stocks. The vote comes as more of Strategy's cash goes to those shares than to new bitcoin.