> ## Content Index
> Fetch the complete content index at: https://www.bullished.co/llms.txt
> Use this file to discover other available public pages before exploring further.

# Strategy Raises Preferred Buyback Authority To $3 Billion, Buys 267 More Bitcoin
- URL: https://www.bullished.co/strategy-raises-preferred-buyback-authority-to-3-billion-buys-267-more-bitcoin-c5823709/
- Published: 2026-10-19T12:06:05.000Z
- Updated: 2026-10-28T20:27:40.000Z
- Description: The company repurchased 1,938,780 STRC shares for $193.1 million from cash, not its dividend reserve, an 8-K shows.
- Author: Matteo Parrino
- Tags: SEC Filings, MSTR, Industry: Technology

[Strategy](https://www.bullished.co/tag/mstr/)'s board raised its repurchase program for preferred stock and other digital credit securities to [$3.0 billion from $2.0 billion](https://www.sec.gov/Archives/edgar/data/0001050446/000119312526424688/mstr-20261019.htm?ref=bullished.co), according to an [8-K](https://www.bullished.co/learn/8-k-items-explained/) filed Monday. The same filing shows the company bought 267 bitcoin for $22.1 million during the week of October 12 to October 18.

## The buyback increase

The new [$3.0 billion ceiling](https://www.sec.gov/Archives/edgar/data/0001050446/000119312526424688/mstr-20261019.htm?ref=bullished.co) includes commissions, fees and expenses, and counts repurchases already made under the program. After the increase, $1.16 billion of purchase authority remained as of October 18.

During the week, Strategy repurchased 1,938,780 shares of its STRC preferred stock for an aggregate $193.1 million. It paid for them with USD Cash, the pool management keeps for broader bitcoin-treasury purposes. No other preferred series was repurchased, and no MSTR common stock was bought back; $1.0 billion of authority remains under the separate MSTR repurchase program.

## Bitcoin purchases and how they were paid for

The 267 bitcoin cost an average of $82,900 each, inclusive of fees. Holdings now stand at 848,517 bitcoin, acquired for an aggregate $64.02 billion, or an average of $75,446.

The purchases were funded by $22.0 million in net proceeds from selling 140,872 MSTR common shares under the at-the-market program, plus $0.1 million of USD Cash. That program has $18,785.6 million still available for sale. No preferred shares were sold during the week.

## Reserve and cash balances

The USD Reserve, which is meant to cover preferred dividends and interest on debt, paid out $45.5 million for preferred dividends during the week. It held $4.83 billion on October 18, while USD Cash was $447.3 million.

The largest unused sales capacity among the preferred series sits in STRC, at $17,510.8 million, according to the filing. STRF has $1,619.3 million, STRK $2,100.0 million and STRD $4,014.8 million available.

MSTR closed at $136.83 on Friday, down 9.56%.

The preferred buybacks were paid from USD Cash, leaving the dividend reserve at $4.83 billion after its $45.5 million outlay.

Learn

- [Item 7.01: Regulation FD disclosure →](https://www.bullished.co/learn/8-k-items-explained/#item-701-regulation-fd-disclosure)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Strategy Inc (MSTR)](https://www.sec.gov/Archives/edgar/data/0001050446/000119312526424688/mstr-20261019.htm?ref=bullished.co) — SEC EDGAR

### More on Strategy (MicroStrategy)

- [Strategy Pays $204.9 Million To Retire Its Own STRC Preferred Shares, Buys No Bitcoin](https://www.bullished.co/strategy-pays-204-9-million-to-retire-its-own-strc-preferred-shares-buys-no-bitcoin-211bd96c/)
- [Strategy Says STRC Will Probably Pay Dividends Every Day After October 28 Shareholder Vote](https://www.bullished.co/strategy-says-strc-will-probably-pay-dividends-every-day-after-october-28-shareholder-vote/)
- [Strategy Declares $1.00 Of Daily STRC Dividends For November, Payable Only If Holders Approve](https://www.bullished.co/strategy-declares-1-00-of-daily-strc-dividends-for-november-payable-only-if-holders-77525be1/)

[All Strategy (MicroStrategy) (MSTR) coverage →](https://www.bullished.co/tag/mstr/)