Strategy Inc Acquires 950 Additional Bitcoin for $75.7M and Repurchases $174M in Preferred Stock

Executive Summary

On September 21, 2026, Strategy Inc (NASDAQ: MSTR) submitted an 8-K filing covering corporate updates for the weekly period between September 14, 2026, and September 20, 2026. The report details the company's continuous Bitcoin treasury additions, capital allocation via share buybacks, and ATM offering activity.

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Key Updates

1. Bitcoin Treasury Acquisitions

• Weekly Purchases: Acquired 950 BTC for an aggregate purchase price of $75.7 million in USD cash (inclusive of fees and expenses).
• Average Purchase Price: $79,670 per bitcoin during the week.
• Cumulative Holdings: As of September 20, 2026, Strategy held an aggregate of 846,000 BTC purchased for $63.80 billion at a lifetime average cost basis of $75,416 per bitcoin.

2. Capital Markets & ATM Program

• Strategy did not issue or sell any common or preferred shares under its at-the-market (ATM) offering facility during the reporting period.

3. Preferred Share Repurchases

• STRC (Variable Rate Series A Perpetual Stretch Preferred Stock): Repurchased 1,771,238 shares for an aggregate purchase price of $174.0 million.
• STRF (10.00% Series A Perpetual Strife Preferred Stock): 0 shares repurchased.
• STRK (8.00% Series A Perpetual Strike Preferred Stock): 0 shares repurchased.

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Strategic Implications

• Steady Accumulation Pace: Strategy continues its programmatic treasury strategy by acquiring additional Bitcoin despite elevated market levels ($79,670 vs. historical cost average of $75,416).
• Active Preferred Stock Retirement: Strategy deployed significant cash ($174.0M) to retire preferred securities (STRC), indicating deliberate capital management to lower ongoing dividend carrying obligations.