Strategy acquired 267 BTC for $22.1 million and repurchased $193.1 million of its STRC preferred stock during the week of October 12-18, according to a company announcement and an SEC filing.

The Bitcoin treasury company paid an average of $82,900 per coin, including fees. That was below the $86,194 average price it paid for the 250 BTC purchased the previous week, as reported by Decrypt. Strategy now holds 848,517 BTC, acquired for a total of $64.02 billion at an average cost of $75,446 per coin.

Strategy said it funded most of the Bitcoin purchase by selling MSTR common stock through its at-the-market offering program, a mechanism that lets a company sell newly issued shares into the market over time at prevailing prices. It raised $22 million from the sale of 140,872 MSTR shares and used an additional $0.1 million in cash. The company did not sell any preferred stock during the week.

Strategy repurchased 1,938,780 shares of STRC, its variable-rate Stretch preferred stock, for $193.1 million, reducing the preferred's outstanding share count. The buyback used what the company calls USD Cash, funds set aside for general purposes, including Bitcoin purchases.

The company's board also increased the total authorization for its Digital Credit Securities Repurchase Program, which covers its preferred stock, to $3 billion from $2 billion. The program had $354.8 million remaining after the previous week's buyback. Following this week's repurchase and the increase in authorization, $1.16 billion remained available as of October 18. A separate program for repurchasing MSTR common stock had $1 billion remaining.

Strategy also used $45.5 million from its USD Reserve to pay dividends. The reserve is intended to cover preferred dividends and interest on the company's debt. As of October 18, it held $4.83 billion, while USD Cash stood at $447.3 million. A week earlier, the figures were $4.88 billion and $640.5 million, respectively.

Strategy has repurchased $193M of $STRC and acquired 267 $BTC . As of 10/18/26, we hold 848,517 BTC and $5.3B of USD Assets. We have also increased the size of our Digital Credit Securities Repurchase Program from $2.0B to $3.0B. $MSTR — Strategy (@Strategy) October 19, 2026

The latest Bitcoin purchase was broadly in line with the $21.5 million acquisition announced the previous week and was significantly smaller than the $142.7 million Strategy spent on Bitcoin during the last week of September, a marked slowdown in the pace of weekly buying. Strategy co-founder Michael Saylor had hinted at the latest purchase in a Sunday post, writing: “We found room for more orange.”

The latest STRC repurchase extends a series of weekly buybacks. Strategy bought back $192.4 million of STRC the previous week and $176 million the week before that, when it also purchased $29 million in Bitcoin and reported a $21 billion third-quarter gain. During the last week of September, the company repurchased $151.7 million of STRC as its Bitcoin holdings reached a then-record 847,666 BTC.

Strategy and MSCI rules

Strategy also faces possible removal from MSCI's widely tracked equity indexes. On October 15, the index provider finalized a rule that makes “non-operating companies”—defined as companies whose balance sheets are dominated by a single asset—ineligible for its Global Investable Market Indexes after the close of November 30.

MSCI will publish the list of affected companies on November 11. Removal would require funds that track the indexes to sell the affected shares, and the gap between the list's publication and the eligibility cutoff gives those funds a defined timeline to act. Saylor has urged MSCI to withdraw what he called a “discriminatory” rule.