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# Strategy Spent $192.4 Million Retiring STRC Preferred Shares, Versus $21.5 Million On 250 Bitcoin
- URL: https://www.bullished.co/strategy-spent-192-4-million-retiring-strc-preferred-shares-versus-21-5-million-on-250-9b3664c2/
- Published: 2026-10-13T12:05:55.000Z
- Updated: 2026-10-28T22:22:22.000Z
- Description: The company sold no preferred stock in the week to October 11 and funded its bitcoin buy mostly with common-stock sales.
- Author: Matteo Parrino
- Tags: SEC Filings, MSTR, Industry: Technology

[Strategy](https://www.bullished.co/tag/mstr/) repurchased [1,932,145 shares of its STRC preferred stock](https://www.sec.gov/Archives/edgar/data/0001050446/000119312526419726/mstr-ex99%5F1.htm?ref=bullished.co) for an aggregate $192.4 million between October 5 and October 11, according to an [8-K filed Tuesday](https://www.sec.gov/Archives/edgar/data/0001050446/000119312526419726/mstr-20261012.htm?ref=bullished.co). In the same week it bought only 250 bitcoin for $21.5 million.

## What the 8-K and press release say

The press release, dated Monday, October 12, covers the week of October 5 to October 11\. Strategy sold no STRF, STRC, STRK or STRD preferred stock under its at-the-market program in that period, and repurchased none of those other series or any MSTR common stock.

The bitcoin purchase came to an average of [$86,194 per coin](https://www.benzinga.com/crypto/cryptocurrency/26/10/62298140/strategy-adds-250-bitcoin-can-mstr-break-through-160?ref=bullished.co), including fees and expenses. That lifts holdings to 848,250 BTC as of October 11, bought at an aggregate $64.00 billion, or $75,444 on average.

Funding came from selling [125,183 MSTR common shares](https://markets.ft.com/data/announce/detail?dockey=600-202610120800BIZWIRE%5FUSPRX%5F%5F%5F%5F20261012%5FBW891104-1&ref=bullished.co) for $21.0 million in net proceeds, plus $0.5 million of what the company calls USD Cash.

## What it changes

Money went mainly toward retiring preferred stock rather than toward bitcoin. After the week's buyback, [$354.8 million of purchase price](https://markets.ft.com/data/announce/detail?dockey=600-202610120800BIZWIRE%5FUSPRX%5F%5F%5F%5F20261012%5FBW891104-1&ref=bullished.co) remains available under the company's repurchase program for preferred stock. A separate MSTR common-stock repurchase program has $1.0 billion remaining.

Strategy's USD Reserve, which is meant to cover preferred dividends and interest on its debt, stood at $4.88 billion on October 11\. USD Cash, which management keeps for broader uses including buying bitcoin, was $640.5 million.

The at-the-market program still has room: $17,510.8 million available for STRC and $18,807.6 million for MSTR common stock.

## What to watch

The next weekly update will show whether the STRC buybacks continue against the remaining $354.8 million. MSTR shares closed at $152.68 on Monday and were indicated at $154.75 in Tuesday pre-market trading.

The remaining $354.8 million on the preferred buyback program sets the ceiling for any further STRC repurchases under it.

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/0001050446/000119312526419726/mstr-20261012.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit mstr-ex99\_1.htm — Strategy Inc 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001050446/000119312526419726/mstr-ex99%5F1.htm?ref=bullished.co) — SEC EDGAR
- [Strategy Acquires 250 BTC and Repurchases $192 Million of STRC – Company Announcement - FT.com](https://markets.ft.com/data/announce/detail?dockey=600-202610120800BIZWIRE%5FUSPRX%5F%5F%5F%5F20261012%5FBW891104-1&ref=bullished.co) — Financial Times
- [Strategy Adds 250 Bitcoin: Can MSTR Break Through $160?](https://www.benzinga.com/crypto/cryptocurrency/26/10/62298140/strategy-adds-250-bitcoin-can-mstr-break-through-160?ref=bullished.co) — benzinga.com
- ['There’s always room for more orange': Michael Saylor's Strategy scoops up another 250 bitcoin for $21.5 million as holdings reach 848,250 BTC](https://www.theblock.co/news/business/2026-10-12-theres-always-room-for-more-orange-michael-saylors-strategy-scoops-up-another-250-bitcoin-for-21-5-million-as-holdings-reach-848250-btc-418275?ref=bullished.co) — theblock.co
- [Strategy buys $21 million worth of Bitcoin as corporate crypto buying shows signs of revival](https://fortune.com/2026/10/12/strategy-21-million-bitcoin-corporate-crypto-buying-revival/?ref=bullished.co) — fortune.com
- [Strategy Scoops Up $21.5M in Bitcoin, Buys Back $192M in STRC - Decrypt](https://decrypt.co/380677/strategy-scoops-up-21-5m-in-bitcoin-buys-back-192m-in-strc?ref=bullished.co) — decrypt.co

### 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 Raises Preferred Buyback Authority To $3 Billion, Buys 267 More Bitcoin](https://www.bullished.co/strategy-raises-preferred-buyback-authority-to-3-billion-buys-267-more-bitcoin-c5823709/)

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