Strategy Bought 334 BTC. BTC/Share Rose 0.02% as STRC Buybacks Continued.

The bigger capital commitment was reducing preferred stock and its dividend burden. At STRC's current 12% rate, the repurchases remove roughly $21.3 million of annualized dividends. That improves future cash requirements, but uses cash today.

BTC per share turned slightly positive

Strategy bought 334 BTC at an average $85,838.80, including fees and expenses. All purchases occurred October 1–4; it reported no Bitcoin purchases or ATM sales during September 28–30. The filing separates those periods because they cross quarter-end.

It sold 92,894 MSTR shares for $15.7 million net, directing all those proceeds to Bitcoin. Another $13.0 million came from existing USD Cash. There were no preferred ATM sales or MSTR buybacks. October 5 Form 8-K

Here's the result using Strategy's share table and the previous week's recorded figures:

Bitcoin holdings grew approximately 0.039%, while assumed diluted shares grew 0.021%. Using the unrounded inputs, BTC/share rose 0.0188%, or 0.02% at headline precision.

ADSO includes assumed conversion of convertible securities and outstanding equity awards. It is distinct from basic shares and GAAP diluted weighted-average shares. The issuer publishes share counts in thousands, so these calculations are approximate.

That compares with a 0.13% decline last week, when Strategy directed $103.5 million of new MSTR proceeds toward STRC buybacks. This time, the much smaller common offering went entirely toward Bitcoin, with existing cash adding to the purchase. September 28 Form 8-K

STRC buybacks reduced future dividends

Across the two reporting periods, Strategy repurchased 1,773,802 STRC shares for $176.3 million. It funded those purchases with $154.1 million of USD Cash and $22.2 million of interest earned on cash, cash equivalents and short-term investments. October 5 Form 8-K

At STRC's $100 stated amount, that removes approximately $177.4 million of preferred stated value. The implied average repurchase price was $99.39, a discount of about 0.61%, versus approximately 1.14% last week.

The discount captured was only about $1.1 million. The larger recurring benefit is the dividend reduction:

1,773,802 shares × $100 × 12% = approximately $21.3 million annually.

That assumes the current variable rate continues. It is an annualized reduction, not dividends already saved or a guaranteed investment return.

STRC is nonconvertible, so repurchasing it does not shrink the common-share denominator. It removes preferred claims and future payments ahead of common holders. Existing STRC investors retain the same per-share dividend rate; the company pays dividends on fewer shares.

The tradeoff is less cash available

Strategy ended October 4 with $4.88 billion in its USD Reserve and $833.4 million in USD Cash. The reserve supports preferred dividends and debt interest; USD Cash serves broader treasury and capital-management purposes.

During the week, it used $167.1 million of USD Cash for Bitcoin and STRC repurchases, plus $142.5 million from the reserve for dividends and interest. October 5 Form 8-K

Buying back STRC reduces future dividend requirements. Keeping the cash would preserve flexibility and interest income; buying Bitcoin would increase BTC/share more directly. The repurchases therefore exchange liquidity today for lower preferred obligations later.

The quarterly gain is an accounting update

Management also estimates a $20.91 billion Q3 digital-asset gain and $1.88 billion of associated deferred tax expense. Releasing a $4.12 billion valuation allowance reduced that estimated expense from $6.00 billion.

Those figures are preliminary and have not been audited or reviewed by KPMG. The gain does not represent $20.91 billion of new cash available for purchases or dividends. Q3 update in the October 5 Form 8-K

For common shareholders, this week's filing shows a modest BTC/share increase alongside a meaningful reduction in preferred dividends. Future filings will show whether Strategy can keep lowering those obligations while preserving cash and growing Bitcoin per share.

Explore the updated MSTR figures, STRC capital history, and accretion calculator.