Strategy Expands Bitcoin Treasury to 850,364 BTC With $81.9 Million Purchase as MSCI Index Decision Looms

Corporate Bitcoin treasury giant Strategy has continued its aggressive accumulation strategy, purchasing an additional 1,036 Bitcoin for approximately $81.9 million over the course of last week. According to a regulatory filing submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, this marks the company’s second consecutive week of resumed Bitcoin acquisitions following a brief strategic pause.

Between November 2 and November 8, the firm paid an average price of $79,012 per coin. With this latest acquisition factored into its balance sheet, Strategy’s cumulative holdings have reached a staggering 850,364 Bitcoin. The company has invested a total of approximately $64.16 billion to amass this trove, reflecting an overall average purchase price of roughly $75,456 per coin across its entire historical buying program.

The latest weekly purchase demonstrates an acceleration in Strategy’s buying pace compared to the previous week. During the week prior, the firm resumed its long-running acquisition program by purchasing 811 Bitcoin for $65.5 million. That resumption came immediately after a one-week pause, during which the corporate treasury pioneer temporarily suspended its digital asset purchases to instead dedicate $205 million toward buying back its own preferred stock.

Alongside its steady accumulation of Bitcoin, Strategy continued active capital management operations regarding its equity and preferred stock structures. Last week, the company bought back 1,887,464 shares of STRC, its variable-rate preferred stock, expending $188.3 million for the repurchase. This figure represents a slight decrease from the previous week’s preferred stock buyback, which totaled $208.2 million.

To fund both the fresh Bitcoin acquisition and the ongoing preferred stock buybacks, Strategy generated capital by selling shares of its primary class of stock. The firm sold 2,051,348 shares of MSTR stock, resulting in $283.8 million in net proceeds. Out of this total capital generation, $188.3 million was allocated to the STRC buyback and $81.9 million went toward the 1,036 Bitcoin purchase, leaving a remaining balance of $13.6 million to be funneled directly into the company’s USD Cash account.

This allocation marks a notable operational shift from the pattern observed the previous week. During that preceding period, Strategy funded its STRC buybacks directly from its existing USD Cash reserves, which temporarily drew down that specific balance to $132.7 million. However, with the surplus generated from the recent MSTR stock offering, the company’s USD Cash position recovered, rising to $146.2 million as of November 8.

Furthermore, Strategy maintains a separate USD Reserve designated specifically to cover future dividend payouts on its preferred stock offerings as well as interest obligations on its corporate debt. Following the distribution of $21.1 million in preferred dividends over the course of the week, the USD Reserve stood firm at $4.77 billion. The company also retains significant dry powder for future corporate maneuvers, with approximately $560.3 million remaining available under its preferred stock repurchase program and $1 billion authorized under its separate program dedicated to buying back MSTR stock.

MSCI Decision Looms

This latest financial and treasury update arrives at a critical juncture for Strategy, landing just two days before global index provider MSCI is scheduled to publish its definitive list of companies impacted by newly finalized rules. These regulations target firms whose enterprise value is predominantly driven by a single underlying asset—a structural reality that could potentially result in the removal of Strategy from several prominent MSCI equity indexes.

The impending MSCI decision has remained a focal point of market observation for institutional investors and analysts tracking the firm’s stock performance and broader market integration.

Compounding these regulatory and index-related developments, Strategy’s corporate capital structure is also navigating a transition in its shareholder return mechanisms. Last month, company shareholders overwhelmingly approved a resolution to implement daily dividend distributions across its four series of preferred stock, with the groundbreaking schedule kicking off with STRC on November 1. As Strategy balances aggressive digital asset accumulation with capital return programs, market participants continue to monitor how the firm manages its expansive balance sheet amid shifting macroeconomic conditions and evolving index rules.