In brief
- Strategy bought 1,665 BTC for $142.7 million between 21 and 27 September 2026, lifting its holdings to 847,666 BTC.
- In the same week it spent $151.7 million buying back its own STRC preferred stock, more than it spent on bitcoin.
- All of the new money came from selling 1,469,165 shares of MSTR common stock for $246.2 million.
Strategy (Nasdaq: MSTR) added 1,665 bitcoin last week, taking its holdings to 847,666 BTC, according to a Form 8-K filed on 28 September 2026. It is the second buy in a row: the week before, Strategy bought 950 BTC for $75.7 million after a two-week pause, Cointelegraph reported.
The company paid $142.7 million, or $85,681 per coin including fees, for coins bought between 21 and 27 September. Its whole stack cost $63.95 billion, an average of $75,437 per bitcoin. That is about 4% of the 21 million BTC that will ever exist.
More money went to preferred buybacks than to bitcoin
The bigger number in the filing is not the bitcoin buy. Strategy sold 1,469,165 MSTR shares through its at-the-market program for $246.2 million in net proceeds. Only $142.7 million of that, about 58%, bought bitcoin. The other $103.5 million, plus $48.1 million from its USD Cash balance, went to repurchasing 1,534,530 shares of STRC, its variable-rate “Stretch” preferred stock, for $151.7 million.
That works out to just under $99 per STRC share on average. Strategy still has $723.5 million left under its program for repurchasing preferred stock and $1.0 billion under a separate MSTR buyback program. It sold no preferred stock of any series during the week.
The filing also shows $22.1 million drawn from the USD Reserve to pay preferred dividends. The reserve stood at $5.02 billion on 27 September, with a further $1.00 billion in USD Cash. Strategy set up the reserve to cover dividends on its preferred stock and interest on its debt, so the company does not have to sell bitcoin to meet those payments.
Daily dividends go to a vote on 28 October
A separate 8-K filed on 25 September says the board wants to pay dividends on all four preferred series (STRF, STRC, STRK and STRD) daily instead of on their current schedules. The total paid and the rates would not change. Stockholders vote at a virtual special meeting on 28 October. If approved, daily STRC payments would start on 2 November and the other three series on 4 January 2027.
Strategy is still the largest corporate holder of bitcoin by a wide margin. Ether treasury firm Bitmine, which crossed 6 million ETH on 27 September, calls itself the second-largest crypto treasury behind it. For readers weighing MSTR shares as a stand-in for the coin, our guide on investing in bitcoin without buying it covers the trade-offs.
