Crypto News
Strategy bought 1,036 BTC for $81.9M between Nov. 2 and Nov. 8, lifting its holdings to 850,364 BTC at an average cost of $75,456. The purchase came at an average price of $79,012, below the company’s average acquisition price, while Bitcoin traded near $74,000. Strategy also used $188.3M to repurchase 1,887,464 STRC preferred shares.
Why it matters
Strategy sold 2,051,348 Class A shares through its at-the-market offering program, generating $283.8M in net proceeds. It allocated $81.9M to Bitcoin, $188.3M to the STRC repurchase and $13.6M to its general cash balance. The company ended the period with about $4.77B in its USD Reserve and $146.2M in general cash, resources that support dividends, interest payments and continued treasury activity.
STRC, also known as Stretch, is a variable-rate perpetual preferred stock designed to trade around its $100 stated amount. Ondo Finance’s STRCon launched in April 2026, providing blockchain-based economic exposure to STRC across Ethereum, Solana and BNB Chain. Tokenholders can receive dividend-related benefits without conventional shareholder voting rights, although secondary-market trading does not automatically provide fresh capital to Strategy.
Market impact
The acquisition arrived amid weak institutional demand. US spot Bitcoin ETFs recorded $1.3B in net outflows last week, including $411.9M of withdrawals on Friday. BlackRock’s IBIT accounted for approximately $403M of redemptions, while Fidelity’s FBTC posted a partial offset with $42.8M in inflows.
At $74,000 per BTC, Strategy’s holdings would carry an unrealized loss exceeding $1B. Even so, the company’s 850,364 BTC position now represents more than 4% of Bitcoin’s maximum supply, underscoring its continued reliance on equity issuance and preferred-stock management to sustain accumulation.
Frequently asked questions
-
How did Strategy finance its latest Bitcoin purchase?
It sold 2,051,348 Class A shares for $283.8M in net proceeds, allocating $81.9M to 1,036 BTC and $188.3M to repurchasing 1,887,464 STRC preferred shares.
-
What is STRC and why did Strategy repurchase it?
STRC, also known as Stretch, is a variable-rate perpetual preferred stock designed to trade around its $100 stated amount. Strategy spent $188.3M repurchasing 1,887,464 shares.
-
How does Ondo Finance's STRCon provide STRC exposure?
STRCon provides blockchain-based economic exposure to STRC across Ethereum, Solana and BNB Chain. It offers dividend-related benefits without conventional shareholder voting rights.
-
Does trading tokenized STRC directly finance Strategy's Bitcoin buys?
No. Secondary-market transactions transfer ownership between investors and do not automatically provide fresh capital to Strategy for Bitcoin purchases.
-
What is Strategy's exposure if Bitcoin trades at $74,000?
Its 850,364 BTC holdings would carry an unrealized loss exceeding $1B at that price. Strategy continued buying despite the pressure on its treasury.
TheBlock
WuBlockchain
Crypto Rank News
CryptoSlate
CoinDesk
WatcherGuru