Michael Saylor hints at more Bitcoin buys as Strategy holds 848,250 BTC

Strategy’s latest official report, released October 12, showed that the company had purchased 250 BTC for 21.5millionduringtheweekendingOctober11.Ithadspentconsiderablymore—192.4 million—buying back its STRC preferred shares during the same period.

Bitcoin was trading near $81,000 on October 18, according to CoinGecko, placing the market price above Strategy’s reported average Bitcoin acquisition cost of $75,444.

Saylor hints at another Bitcoin purchase without confirming a deal

Saylor’s Sunday post continued his practice of publishing charts showing Strategy’s Bitcoin transactions, with purchases represented by orange markers.

His message did not say how many coins the company might acquire or whether an additional transaction had already taken place.

The latest confirmed ownership figure remains 848,250 BTC, according to the company’s October 12 regulatory disclosure, covering activity through October 11.

Strategy’s purchases can be funded through several sources, including sales of common shares, preferred stock offerings and available company cash.

A new chart or social media message, however, does not establish that a transaction has been completed. Confirmation normally comes through the company’s financial disclosures, which identify the number of Bitcoin acquired, total spending and the resulting balance. Earlier this month, Saylor shared a similar message before the company announced its next weekly transactions.

On October 4, he posted another accumulation chart with the words “More orange than ever,” while Strategy’s latest disclosed Bitcoin holdings stood at 847,666 BTC. Crypto.news previously covered the October teaser, which followed a confirmed purchase of 1,665 BTC during the preceding reporting period. The October 18 post comes after Strategy released another set of figures showing a smaller weekly Bitcoin acquisition and substantial preferred-share repurchases.

A new filing covering purchases after October 11 would be needed to determine whether the latest message preceded an actual transaction.

Strategy holds 848,250 Bitcoin after buying 250 BTC

In its October 12 filing with the U.S. Securities and Exchange Commission, Strategy reported purchasing 250 BTC between October 5 and October 11.

The company spent approximately $21.5 million on those coins, paying an average of $86,194 per Bitcoin, including fees and expenses. Following that purchase, total holdings reached 848,250 BTC. Strategy reported aggregate acquisition costs of approximately $64 billion and an average purchase price of $75,444 per coin.

The holding represents roughly 4.04% of Bitcoin’s maximum supply of 21 million coins. That comparison uses Bitcoin’s fixed maximum issuance, not the number of coins currently circulating or available on exchanges. Strategy funded $21 million of the latest purchase using proceeds from sales of its Class A common stock, MSTR. Another $500,000 came from existing company cash.

The company sold 125,183 MSTR shares during the week, generating approximately $21 million in net proceeds. Its filing showed that approximately $18.81 billion of MSTR shares remained available for future issuance and sale under its existing at-the-market program as of October 11.

The availability of that issuance capacity does not mean the company has already sold those shares or committed the proceeds to Bitcoin purchases. Strategy’s reported average cost of $75,444 remains below Bitcoin’s October 18 market price. CoinGecko placed BTC at approximately $81,059 during the market check, with its 24-hour trading range running from $80,823 to $82,178.

At that price, multiplying 848,250 BTC by $81,059 gives an indicative portfolio value of approximately $68.76 billion. Compared with its reported $64 billion acquisition cost, the difference is around $4.76 billion before accounting for other company financial obligations, taxes or valuation adjustments. Those estimates depend on the market price used for the calculation and are not equivalent to Strategy’s company-level net profit.

STRC buybacks exceed latest Bitcoin spending

Although Strategy continued buying Bitcoin during the week ending October 11, most of the spending disclosed across its Bitcoin acquisitions and preferred-share repurchases went toward STRC.

The company bought back 1,932,145 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock for approximately $192.4 million. That compares with the $21.5 million spent purchasing Bitcoin during the same seven-day reporting period.

Dividing the two amounts shows that the STRC repurchase was approximately 8.95 times the value of the Bitcoin purchase. The comparison covers two disclosed transactions, not all of Strategy’s corporate spending. STRC is one of several preferred-stock instruments issued by Strategy to raise capital and finance its operations. The security pays variable dividends, creating ongoing financial obligations for the company.

Repurchasing preferred shares can reduce the number of outstanding securities on which Strategy must make future dividend payments.

However, the October 12 filing does not establish that management chose to repurchase STRC specifically because its yield had reached 12.31%, as asserted in the supplied report. Strategy’s previous weekly capital allocation report covered the same $192.4 million buyback alongside the acquisition of 250 BTC.

A subsequent analysis of its share repurchases examined the distinction between funds used to buy cryptocurrency and those used to manage the company’s preferred-stock obligations.

According to the company’s official filing, approximately $354.8 million remained authorized under its digital credit securities repurchase program after the latest transactions. An additional $1 billion authorization remained available under its separate MSTR common-stock repurchase program. Neither authorization represents a completed transaction. The amounts establish the remaining capacity under the announced programs.

Strategy retains $5.52 billion in dollar assets

Alongside its cryptocurrency holdings and preferred-share repurchases, Strategy reported substantial dollar-denominated assets. As of October 11, its designated USD Reserve totaled $4.88 billion, while other USD Cash stood at $640.5 million.

Combined, those balances equaled approximately $5.52 billion. The company’s filings describe the USD Reserve as money maintained to support preferred-stock dividends and interest payments on outstanding debt. Its separate USD Cash balance serves a different purpose, supporting general Bitcoin treasury activities, possible Bitcoin acquisitions, reserve additions and other capital-management uses.

During the October 5–11 period, Strategy used $500,000 of USD Cash to supplement the proceeds from common-stock sales used to purchase Bitcoin. The filing does not indicate that the entire combined $5.52 billion is intended for new Bitcoin acquisitions. The company had previously reported using part of its available cash to repurchase preferred shares, making its capital position dependent on more than the size of its Bitcoin holdings.

In related corporate treasury activity, an October 14 comparison of share buybacks examined how Strategy and Japanese Bitcoin holder Metaplanet were managing purchases of their own securities alongside cryptocurrency exposure. Strategy’s October 12 filing specified that $17.51 billion of STRC shares remained available for issuance and sale under its at-the-market offering program.

It reported no STRC shares sold during the latest week, while its common-stock sales supplied nearly all the funding for the newly acquired 250 BTC. The company ended that reporting period with $640.5 million in general-purpose USD Cash and $4.88 billion in its designated reserve.