Strategy bought another 1,036 BTC last week — but allocated more than twice as much to preferred stock buybacks.
The facts: A Form 8-K filed with the SEC today, Nov. 9, 2026, reports that Strategy bought 1,036 BTC from Nov. 2–8 for $81.9 million, at an average of $79,012 per coin. Its total holdings now stand at 850,364 BTC, acquired for $64.16 billion, at an average of $75,456. During the same period, Strategy sold 2,051,348 MSTR shares and raised $283.8 million: $81.9 million for BTC, $188.3 million to repurchase 1,887,464 STRC preferred shares, and $13.6 million added to cash. Its dollar reserve is $4.77 billion, and cash is $146.2 million.
My take: It’s the same pattern as last week — BTC buying continues, but the funding priority is STRC buybacks. The interesting part: this week’s purchases were at an average of $79,012, above tonight’s BTC price of around $74,896 — so the new position is already below its purchase price, and total holdings are still about $476 million below their cost basis (my calculation from the filing figures). This isn’t about panic or overconfidence; it’s about the stock ATM machine that keeps running — sell shares, buy a little BTC, buy back more preferred stock.
What I’m watching next: whether the BTC allocation grows again next week, and whether BTC can get back above the $75,456 average purchase price before U.S. CPI tomorrow night at 20:30 WIB.
What do you think: does the larger STRC buyback compared with BTC purchases mean Strategy is strengthening its capital structure, or is it holding back the pace of accumulation?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #Strategy $BTC
The facts: A Form 8-K filed with the SEC today, Nov. 9, 2026, reports that Strategy bought 1,036 BTC from Nov. 2–8 for $81.9 million, at an average of $79,012 per coin. Its total holdings now stand at 850,364 BTC, acquired for $64.16 billion, at an average of $75,456. During the same period, Strategy sold 2,051,348 MSTR shares and raised $283.8 million: $81.9 million for BTC, $188.3 million to repurchase 1,887,464 STRC preferred shares, and $13.6 million added to cash. Its dollar reserve is $4.77 billion, and cash is $146.2 million.
My take: It’s the same pattern as last week — BTC buying continues, but the funding priority is STRC buybacks. The interesting part: this week’s purchases were at an average of $79,012, above tonight’s BTC price of around $74,896 — so the new position is already below its purchase price, and total holdings are still about $476 million below their cost basis (my calculation from the filing figures). This isn’t about panic or overconfidence; it’s about the stock ATM machine that keeps running — sell shares, buy a little BTC, buy back more preferred stock.
What I’m watching next: whether the BTC allocation grows again next week, and whether BTC can get back above the $75,456 average purchase price before U.S. CPI tomorrow night at 20:30 WIB.
What do you think: does the larger STRC buyback compared with BTC purchases mean Strategy is strengthening its capital structure, or is it holding back the pace of accumulation?
This is my analysis, not financial advice — always DYOR.
#Bitcoin #Strategy $BTC