Strategy Inc Discloses No Weekly BTC Transactions and $204.9M Preferred Stock Repurchase

Summary of Form 8-K Event

On October 26, 2026, Strategy Inc (NASDAQ: MSTR) filed a Current Report on Form 8-K disclosing operational and treasury updates for the period from October 19, 2026 through October 25, 2026.

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Key Treasury & Capital Allocation Disclosures

1. Bitcoin Treasury Update

   • Weekly Activity: Strategy did not acquire or dispose of any bitcoin during the week of October 19 to October 25, 2026.
   • Total Holdings: Approximately 848,517 bitcoin as of October 25, 2026.
   • Cost Basis: Aggregate purchase price of $64.02 billion, reflecting an average cost basis of approximately $75,446 per bitcoin (including fees and expenses).

2. Equity Issuance via ATM Program

   • No shares were issued or sold under the company's at-the-market (ATM) equity offering program during the reporting window.

3. Share Repurchase Program Activity

   • STRC Stock (Variable Rate Series A Perpetual Stretch Preferred Stock): Strategy repurchased 2,068,459 shares for an aggregate purchase price of $204.9 million funded from USD Cash.
   • STRF, STRK, STRD Preferreds & MSTR Common Stock: No shares repurchased during the period.
   • Remaining Buyback Capacity:
     • Digital Credit Preferred Securities: $956.8 million aggregate repurchase capacity remains.
     • MSTR Common Stock: $1.0 billion aggregate repurchase capacity remains.

4. Liquidity and USD Reserves

   • USD Reserve: $4.83 billion dedicated to dividend support on preferred securities and interest obligations.
   • USD Cash: $242.4 million available for general corporate and bitcoin treasury deployment.

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Market Implications

• Pausing Dilution and Purchases: The cessation of ATM share sales alongside pause in BTC accumulation signals tactical discipline or temporary liquidity balancing after prior aggressive expansion.
• Support for Fixed-Income/Preferred Equities: The allocation of $204.9 million to buy back STRC demonstrates active capital structure optimization and yield management for Strategy's suite of digital credit instruments.