Strategy Resumes Bitcoin Accumulation With 811 BTC Purchase After Brief Pause

Corporate Bitcoin treasury giant Strategy has officially resumed its aggressive digital asset acquisition strategy, snapping up 811 Bitcoin for approximately $65.5 million last week. The move follows a brief, one-week hiatus that marked the company’s first major pause in buying the cryptocurrency since mid-September, signaling a return to its core treasury accumulation model alongside active capital management involving its equity and preferred stock offerings.

According to a regulatory filing released by the company, Strategy acquired the digital assets between October 26 and November 1, paying an average price of $80,846 per coin. To fund this latest tranche of Bitcoin, the firm tapped the public markets, selling 1,178,552 shares of its MSTR stock, which yielded $164 million in net proceeds. Of that total capital injection, $65.5 million was allocated directly toward expanding its Bitcoin holdings, while the remaining $98.5 million was funneled into the company’s USD Cash account for general corporate purposes and future liquidity management.

With this latest acquisition integrated into its corporate balance sheet, Strategy now commands an unprecedented treasury of 849,327 Bitcoin. The company has amassed this staggering digital asset portfolio at a cumulative purchase price of roughly $64.08 billion, translating to an overall average cost basis of approximately $75,451 per coin. This massive hoard cements Strategy’s position as the undisputed leader among publicly traded corporate holders of cryptocurrency, far outstripping any peer competitors in scale and exposure to the asset class.

Alongside its return to Bitcoin buying, Strategy continued its active management of STRC, its variable-rate preferred stock. The company bought back 2,092,035 shares of STRC for a total outlay of $208.2 million, funded entirely from its existing USD Cash reserves. This repurchase figure represents an uptick from the previous week, when the firm spent $204.9 million on preferred stock buybacks during the week it paused its Bitcoin accumulation entirely. For context, the week prior to that pause, Strategy had acquired a modest 267 Bitcoin for $22.1 million alongside heavy capital returns to preferred shareholders.

The continuous balancing act between acquiring digital assets and supporting preferred stock has visibly shifted the company’s liquid reserves. Strategy’s USD Cash—the pool maintained for general operational flexibility and digital asset purchases—declined from $242.4 million down to $132.7 million over the course of the week. Meanwhile, its separate USD Reserve, a dedicated pool designed to cover preferred dividends and debt interest payments, stood at a robust $4.79 billion after the company disbursed $43.4 million in dividend payments. Following these capital allocation maneuvers, approximately $748.6 million still remains available under the firm’s active authorization program for repurchasing preferred stock.

Highlighting the health and longevity of these financial buffers, Strategy took to social media to report its combined USD assets at $4.9 billion. The company also pointed to its "USD Duration"—a proprietary internal metric measuring how long its existing cash and reserve assets could comfortably cover outstanding dividends and interest obligations—standing at an estimated 3.3 years.

STRC’s daily dividends begin

The resumption of Bitcoin purchasing coincides with a structural evolution in how Strategy returns value to its equity holders. The fresh market activity arrives just as STRC transitions to a new, accelerated dividend schedule. Shareholders overwhelmingly approved the implementation of daily dividends across Strategy’s suite of four preferred stock classes, securing a resounding 99.3% in favor during a vote held the previous week. Under this newly minted framework, STRC’s inaugural daily record date officially fell on November 1, fundamentally changing the income profile for preferred investors.

Financial institutions and market analysts continue to monitor Strategy’s complex financial ecosystem closely. Following the firm’s third-quarter earnings call, Mizuho Financial Group reaffirmed its Outperform rating and maintained a $165 price target on MSTR stock. Mizuho analysts pointed to a notably strengthening underlying balance sheet, emphasizing that the company’s net leverage ratio had successfully dropped from a heavy 8.4% down to a much more manageable 2.4%.

However, external scrutiny remains high regarding the long-term dilution effects of Strategy’s ongoing capital-raising mechanisms. During the same assessment, analyst Dan Dolev raised potential concerns regarding share dilution, noting that the amount of Bitcoin backed by each individual share of MSTR has declined by approximately 3.7% over the course of the year.

Beyond equity dilution concerns, Strategy also navigates shifting regulatory and index landscapes. The corporate treasury giant faces the imminent threat of removal from major equity benchmarks administered by MSCI. This potential exclusion stems from a finalized rule change introduced by the index provider in October, which dictates that publicly listed companies whose business models are overwhelmingly dominated by a single underlying asset may be deemed ineligible for inclusion. MSCI is scheduled to publish its official list of affected component companies on November 11, a decision that could trigger passive fund rebalancing and test market sentiment surrounding the stock.