Strategy's Bitcoin (BTC) Holdings Hit 848,000 After $28.7M Weekly Buy

Third Straight Weekly Buy

Strategy disclosed a new purchase in a Monday SEC filing: the company bought 334 Bitcoin (BTC) for $28.7 million between October 1 and October 4, lifting its strategic bitcoin reserve to exactly 848,000 coins. It marks the third consecutive weekly buy, though only about a fifth the size of the prior week's 1,665 BTC purchase. The latest tranche cost an average of $85,838.80 per coin, well above the company's overall average purchase price of $75,440.70. With the Bitcoin (BTC) price near $86,071 at the time of writing, up 0.92% over 24 hours, the stack's market value sits well above its $63.97 billion cost basis. The filing also puts the position at roughly 4.04% of Bitcoin's fixed 21 million supply, a stake we track in our coverage of corporate Bitcoin buyers.

How the Purchase Was Funded

The funding split tells much of the story. Only $13 million of the Bitcoin purchase came from USD Cash, the company's general-purpose dollar pool, while $15.7 million arrived from the sale of 92,894 new MSTR common shares. Buybacks dwarfed both figures. Strategy repurchased about 1.77 million shares of its STRC preferred stock, which pays a 12% annual dividend, spending $176.3 million on that program during the week, roughly six times the Bitcoin (BTC) outlay. Of that total, $154.1 million was drawn from USD Cash. The company said last week it will keep STRC's 12% rate in place until the stock trades steadily near its $100 issue price. The 848,000 coins themselves sit untouched as a long-term reserve; in market shorthand, the company runs a corporate-scale hodl.

A $20.9 Billion Quarter

Executive chairman Michael Saylor laid out the quarter's results in a Monday post on X, writing that Strategy reported roughly $21 billion in digital asset gains for the third quarter of 2026, repurchased $176 million of STRC last week, and held 848,000 BTC plus $5.7 billion in dollar assets as of October 4. The filing's more precise estimate puts the third-quarter gain at $20.91 billion through September 30, with digital assets carried at a book value of $70.82 billion. At the end of June the holdings were worth less than the company paid for them; the recovery since then allowed Strategy to reverse a $4.12 billion deferred tax asset tied to that earlier loss.

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Critics Question the Model

Not everyone accepts the approach. Gold advocate Peter Schiff argued over the weekend that Strategy has lost its Bitcoin-buying power because STRC no longer raises fresh capital. The critique lands on a treasury strategy that has become the corporate expression of bitcoin maximalism: one company now holds a stash that makes it the market's largest corporate whale, at 4.04% of the maximum supply. Immediate liquidity is not the stated concern. The filing shows a $4.88 billion USD reserve earmarked for dividends and interest, plus $833.4 million in USD Cash. The open question is the direction of cash flow, and shareholders vote on October 28 on a plan to pay daily dividends across the company's four preferred stocks, a vote that arrives as more of the cash goes to those shares than to new Bitcoin (BTC).

$87,331 Resistance in Focus

The proxy filing adds detail to that dividend vote. In a separate document filed Monday, Strategy asked shareholders to approve paying dividends every business day on all four preferred stocks, STRC, STRF, STRK and STRD, replacing STRC's twice-monthly schedule and quarterly payments on the other three. Rates and total obligations stay unchanged, but the company said daily payouts could shorten reinvestment delays and support price stability. A yes vote on October 28 would start the daily schedule for STRC in November, with STRF, STRK and STRD following in January. The filing also shows how little the Bitcoin stack actually grew during the quarter: holdings rose just 0.2% in Q3, as 5,553 BTC of sales offset most of the 7,218 BTC bought, a net add of 1,666 coins worth roughly $143 million, against about $1.38 billion spent repurchasing STRC over the same period.

The company's follow-up disclosures added two credit metrics to the picture: Strategy put its USD Duration at 3.6 years and set STRC's BTC Credit at 50 basis points, calculated on assumptions of 10% Bitcoin average annual return, 40% volatility and a $84,289 Bitcoin price. The STRC buyback figures broke down as 740,634 shares for $73.7 million bought October 1-4, after $102.6 million went to repurchases September 28-30. The stock fell to about $74 earlier in the year before recovering to roughly $99, still short of its $100 issue price, and Strategy has leaned on MSTR common share sales rather than new STRC issuance for Bitcoin funding as a result. MSTR traded near $163 at the announcement, up almost 2% and about 30% over the past month.

(as of 02:07 UTC) COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $87,255.6733 resistance at 80/100, built on the confluence of R2, Fibo 0.000, PDH and VWAP +2SD; a secondary cap at $86,223.6566 scores 64/100 from R1, HVN 5, SW5H and a round number, per our Bitcoin technical analysis. Below, the nearest support at $83,867.8203 holds an 85/100 score from EMA 20, S2, Fibo 0.114 and SW8L, with a nearly equal shelf at $84,817.9164 (83/100 from S1, LVN 5, Ichimoku Tenkan and PWO) and a deeper floor at $75,763.4562 (72/100 from EMA 100, EMA 200, Fibo 0.382 and Ichimoku Cloud Top). Spot trades at $83,821.4100, down 2.03% in 24 hours, wedged between those two bands with RSI at 62.75 and a bearish MACD signal inside an uptrend. Derivatives lean moderately long: funding at 0.0004%, open interest at $16.2B and a long/short account ratio of 1.21, with 54.6% of accounts long, while Fear & Greed reads 71, in Greed. A daily close above $87,255 extends the trend; losing $83,867 hands the initiative back to sellers, with $82,509 next in line.