Strategy Inc. continued its long-running bitcoin accumulation strategy by purchasing 1,036 BTC between November 2 and November 8, 2026, according to a Securities and Exchange Commission filing released Monday. The acquisition cost approximately $81.9 million at an average price of $79,012 per bitcoin, including fees and expenses, and lifted the firm’s total holdings to 850,364 BTC.

The latest addition brought Strategy’s aggregate acquisition cost to $64.16 billion, equating to an average purchase price of $75,456 per coin across its entire treasury. The company remains the largest publicly traded corporate holder of bitcoin, with its stack representing roughly 4 percent of the cryptocurrency’s fixed 21 million supply cap.

Financing Through Equity Sales and Preferred-Share Buybacks

Strategy financed the bitcoin purchase and related capital actions by selling 2,051,348 shares of its Class A common stock (MSTR) through its at-the-market offering program. The sales generated approximately $283.8 million in net proceeds after commissions.

Of those proceeds, $81.9 million went toward bitcoin, $188.3 million funded the repurchase of 1,887,464 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC),and the remaining $13.6 million was added to the company’s general dollar cash balance. No preferred shares of other series were sold or repurchased during the period.

As of November 8, Strategy reported $4.77 billion in its designated dollar reserve and $146.2 million in separate cash holdings, for a combined total of about $4.9 billion in dollar-denominated assets. The reserve supports preferred-stock dividends and debt interest; the company drew $21.1 million from it during the week to cover dividend payments. Remaining capacity under the preferred-securities repurchase program stood at $560.3 million, while $1 billion remained available under a separate common-stock repurchase authorization. Capacity under the MSTR at-the-market program exceeded $18 billion.

Executive Chairman Michael Saylor had signaled the purchase the day before with a familiar chart post on X captioned “Connecting the dots,” a pattern that has often preceded formal disclosures.

Bitcoin Price Falls Below Average Cost Basis

The disclosure arrived as bitcoin traded near $74,000 to $75,000, levels below Strategy’s updated average acquisition cost of $75,456. At those prices, the market value of the company’s holdings sat roughly $500 million to $1 billion below the cumulative purchase cost, depending on the exact valuation point. One month earlier the same treasury had shown approximately $10 billion in unrealized gains.

Bitcoin had slipped to its lowest levels since August during the weekend, briefly touching near $73,700 before a partial recovery. The price decline followed broader market pressure, including technology-sector weakness and other external factors. Unrealized losses remain paper figures only; Strategy has not indicated any plans to sell bitcoin and continues to treat the asset as a long-term treasury holding.

STRC shares, structured to trade near their $100 stated amount, closed the prior week near $99.84. The preferred stock has recovered from deeper discounts earlier in the year. Shareholders recently approved daily dividend accrual for STRC and related preferred series, with the new schedule beginning November 1.

Continued Accumulation Pattern

The 1,036-BTC purchase followed an 811-BTC acquisition announced the previous week for $65.5 million. Strategy has maintained a steady cadence of smaller weekly buys in recent periods after earlier larger purchases and a brief stretch of bitcoin sales used to fund dividends and preferred buybacks. Those earlier sales had temporarily reduced holdings before the company resumed net accumulation.

Strategy began its bitcoin treasury program in August 2020 with an initial 21,454 BTC purchase. Over subsequent years the firm developed a multi-layered financing approach combining common equity issuance, convertible notes, and preferred securities to support ongoing purchases while managing dividend and interest obligations.

MSTR common shares closed the prior Friday near $128.93 and traded lower in Monday premarket activity. Preferred securities have shown comparatively greater price stability around their targeted levels. The company’s capital structure continues to balance bitcoin exposure with the ongoing costs of preferred dividends and debt service.

Additional capacity remains available under both equity issuance and repurchase programs, providing flexibility for future treasury actions as market conditions evolve.