Cash

Dollars

MSTR

<div class="light-yellow-block">
 <h2 id="strong-key-takeaways-strong"><strong>Key Takeaways</strong></h2>
 <ul>
  <li><strong>STRC buybacks $193.1M; bitcoin $22.1M.</strong></li>
  <li><strong>Old cap had $161.7M left.</strong></li>
  <li><strong>USD Cash fell from $1.44B to $447M.</strong></li>
  <li><strong>Average STRC buyback price: $99.60.</strong></li>
 </ul>
</div>
<h2 id="one-week-193-1-million-for-strc-22-1-million-for-bitcoin">One week: $193.1 million for STRC, $22.1 million for bitcoin</h2>
<p>In its <a href="https://www.strategy.com/press/strategy-repurchases-193-million-of-strc-acquires-267-btc-and-increases-digital-credit-securities-repurchase-program-to-3-billion_10-19-2026" rel="noopener noreferrer nofollow">October 19 update</a>, Strategy disclosed buying 267 BTC for $22.1 million during October 12–18, at an average of $82,900 including fees and expenses. It also repurchased 1,938,780 shares of STRC, its variable-rate preferred stock, for $193.1 million. The <a href="https://assets.contentstack.io/v3/assets/bltf8d808d9b8cebd37/blt075438553ed3641e/6ad5860b04e8526be47d2cab/form-8-k_10-19-2026.pdf" rel="noopener noreferrer nofollow">underlying filing</a> says $22.0 million of net proceeds from selling 140,872 MSTR shares paid for the bitcoin, with $0.1 million from USD Cash, and that USD Cash paid for the STRC repurchases. No preferred stock was sold that week.</p>
<blockquote class="twitter-tweet">
 <p>Strategy has repurchased $193M of $STRC and acquired 267 $BTC. As of 10/18/26, we hold 848,517 BTC and $5.3B of USD Assets. We have also increased the size of our Digital Credit Securities Repurchase Program from $2.0B to $3.0B. $MSTR<br> https://t.co/4o0bQBaTb0</p>
 <p>— Strategy (@Strategy) <a href="https://x.com/Strategy/status/2112152481082003633?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 19, 2026</a></p>
</blockquote>
<p>The latest report <a href="https://coindoo.com/strategy-buying-back-stock-faster-buys-bitcoin/" rel="noopener noreferrer nofollow">extends a pattern</a>. Across the three weekly reports to October 18, STRC repurchases totalled $561.8 million ($176.3 million, $192.4 million and $193.1 million) against $72.3 million of bitcoin ($28.7 million, $21.5 million and $22.1 million), or 851 BTC. Holdings rose to 848,517 BTC, bought at an average of $75,446 including fees.</p>
<h2 id="usd-cash-has-fallen-69-since-september-7">USD Cash has fallen 69% since September 7</h2>
<p>USD Cash is the balance Strategy keeps for broader bitcoin-treasury purposes, which the filing says may include buying bitcoin, expanding the reserve and other capital management. It fell $193.2 million in the week, from $640.5 million to $447.3 million, exactly the $193.1 million of STRC repurchases plus $0.1 million for bitcoin.</p>
<div style="max-width: 560px; margin: 28px 0;">
 <p style="margin: 0 0 4px; font-weight: bold;">USD Cash in Strategy’s weekly reports, $ million</p>
 <p style="margin: 0 0 14px; font-size: 13px; color: #64748b;">Balances as of the date shown.</p>
 <div style="display: flex; align-items: flex-end; gap: 8px; height: 190px; border-bottom: 2px solid #334155; padding-top: 10px;">
  <div style="flex: 1; text-align: center;">
   <div style="font-size: 12px; margin-bottom: 3px;">
    1,440
   </div>
   <div style="height: 140px; background: #94a3b8;"></div>
  </div>
  <div style="flex: 1; text-align: center;">
   <div style="font-size: 12px; margin-bottom: 3px;">
    1,300
   </div>
   <div style="height: 126px; background: #94a3b8;"></div>
  </div>
  <div style="flex: 1; text-align: center;">
   <div style="font-size: 12px; margin-bottom: 3px;">
    1,050
   </div>
   <div style="height: 102px; background: #94a3b8;"></div>
  </div>
  <div style="flex: 1; text-align: center;">
   <div style="font-size: 12px; margin-bottom: 3px;">
    833
   </div>
   <div style="height: 81px; background: #64748b;"></div>
  </div>
  <div style="flex: 1; text-align: center;">
   <div style="font-size: 12px; margin-bottom: 3px;">
    641
   </div>
   <div style="height: 62px; background: #64748b;"></div>
  </div>
  <div style="flex: 1; text-align: center;">
   <div style="font-size: 12px; margin-bottom: 3px; font-weight: bold;">
    447
   </div>
   <div style="height: 43px; background: #b45309;"></div>
  </div>
 </div>
 <div style="display: flex; gap: 8px; margin-top: 4px; font-size: 12px; color: #475569; text-align: center;"><span style="flex: 1;">Sep 7</span><span style="flex: 1;">Sep 13</span><span style="flex: 1;">Sep 20</span><span style="flex: 1;">Oct 4</span><span style="flex: 1;">Oct 11</span><span style="flex: 1;">Oct 18</span>
 </div>
 <p style="margin: 8px 0 0; font-size: 13px; color: #64748b;">Source: Strategy 8-K reports, via the SEC.</p>
</div>
<p>The separate USD Reserve, which the filing says supports preferred dividends and interest on debt, stood at $4.83 billion, down from $5.10 billion on September 7. It paid $45.5 million of dividends during the week. Michael Saylor cited <a href="https://en.bloomingbit.io/feed/news/122491" rel="noopener noreferrer nofollow">$5.3 billion in dollar assets</a>, which is the reserve plus USD Cash. The same sum was $6.54 billion on September 7.</p>
<p>For scale, a repeat of the latest week’s $193 million would take USD Cash from $447.3 million to about $254 million. That is simple subtraction, not a forecast.</p>
<h2 id="the-cap-was-raised-with-161-7-million-left">The cap was raised with $161.7 million left</h2>
<p>The board lifted the digital credit securities repurchase programme from $2 billion to $3 billion. The ceiling includes repurchases already made, so the increase added room rather than a new $3 billion to spend. After it, $1.16 billion remained as of October 18.</p>
<p>Before it, by our arithmetic from the filings, $161.7 million remained: the October 12 report showed $354.8 million left, less this week’s $193.1 million. The September 8 increase also came when about $190 million was left. Across the programme, $1.84 billion has been repurchased.</p>
<div style="display: flex; flex-wrap: wrap; gap: 12px; margin: 24px 0;">
 <div style="flex: 1 1 170px; padding: 14px; border: 1px solid #cbd5e1; border-top: 4px solid #94a3b8; border-radius: 4px;">
  <p style="margin: 0 0 6px; font-size: 12px; letter-spacing: 1px; color: #64748b;">JUNE 29</p>
  <p style="margin: 0; font-size: 14px;"><strong>$1.0B programme</strong> announced.</p>
 </div>
 <div style="flex: 1 1 170px; padding: 14px; border: 1px solid #cbd5e1; border-top: 4px solid #64748b; border-radius: 4px;">
  <p style="margin: 0 0 6px; font-size: 12px; letter-spacing: 1px; color: #64748b;">SEPTEMBER 8</p>
  <p style="margin: 0; font-size: 14px;"><strong>Raised to $2.0B</strong> with about $190M left.</p>
 </div>
 <div style="flex: 1 1 170px; padding: 14px; border: 1px solid #cbd5e1; border-top: 4px solid #b45309; border-radius: 4px;">
  <p style="margin: 0 0 6px; font-size: 12px; letter-spacing: 1px; color: #64748b;">OCTOBER 19</p>
  <p style="margin: 0; font-size: 14px;"><strong>Raised to $3.0B</strong> with $161.7M left.</p>
 </div>
</div>
<div style="margin: 24px 0; padding: 18px 22px; background: #fff7ed; border-left: 4px solid #ea580c;">
 <p style="margin: 0 0 8px;"><strong>The cap is larger than the cash behind it</strong></p>
 <p style="margin: 0; font-size: 15px;">$1.16 billion of remaining authority against $447.3 million of USD Cash, about 2.6 times. Spending all of it would take more than USD Cash holds.</p>
</div>
<h2 id="buying-close-to-par">Buying close to par</h2>
<p>The filings give shares and dollars, which put the average price paid for STRC close to its $100 stated amount. In July, Strategy repurchased shares at an average of $86.53, and its <a href="https://www.sec.gov/Archives/edgar/data/0001050446/000162828026051027/mstr-20260730x8kxex991.htm" rel="noopener noreferrer nofollow">July 30 filing</a> said that while STRC trades below $100 it intends to be a regular and disciplined purchaser, buying more at deeper discounts and tapering as STRC approaches par.</p>
<div style="max-width: 560px; margin: 28px 0;">
 <p style="margin: 0 0 4px; font-weight: bold;">Average price paid per STRC share, by week</p>
 <p style="margin: 0 0 12px; font-size: 13px; color: #64748b;">The axis starts at $96, so the differences look larger than they are. The line marks the $100 stated amount.</p>
 <div style="display: flex; align-items: center; gap: 10px; margin-bottom: 7px;">
  <div style="flex: 0 0 120px; font-size: 13px;">
   Aug 31–Sep 7
  </div>
  <div style="flex: 1; position: relative; height: 18px; background: #f1f5f9;">
   <div style="width: 34%; height: 18px; background: #94a3b8;"></div>
   <div style="position: absolute; right: 0; top: -2px; width: 2px; height: 22px; background: #dc2626;"></div>
  </div>
  <div style="flex: 0 0 54px; font-weight: bold; font-size: 13px;">
   $97.36
  </div>
 </div>
 <div style="display: flex; align-items: center; gap: 10px; margin-bottom: 7px;">
  <div style="flex: 0 0 120px; font-size: 13px;">
   Sep 8–13
  </div>
  <div style="flex: 1; position: relative; height: 18px; background: #f1f5f9;">
   <div style="width: 51.7%; height: 18px; background: #94a3b8;"></div>
   <div style="position: absolute; right: 0; top: -2px; width: 2px; height: 22px; background: #dc2626;"></div>
  </div>
  <div style="flex: 0 0 54px; font-weight: bold; font-size: 13px;">
   $98.07
  </div>
 </div>
 <div style="display: flex; align-items: center; gap: 10px; margin-bottom: 7px;">
  <div style="flex: 0 0 120px; font-size: 13px;">
   Sep 14–20
  </div>
  <div style="flex: 1; position: relative; height: 18px; background: #f1f5f9;">
   <div style="width: 56%; height: 18px; background: #94a3b8;"></div>
   <div style="position: absolute; right: 0; top: -2px; width: 2px; height: 22px; background: #dc2626;"></div>
  </div>
  <div style="flex: 0 0 54px; font-weight: bold; font-size: 13px;">
   $98.24
  </div>
 </div>
 <div style="display: flex; align-items: center; gap: 10px; margin-bottom: 7px;">
  <div style="flex: 0 0 120px; font-size: 13px;">
   Sep 28–Oct 4
  </div>
  <div style="flex: 1; position: relative; height: 18px; background: #f1f5f9;">
   <div style="width: 84.8%; height: 18px; background: #64748b;"></div>
   <div style="position: absolute; right: 0; top: -2px; width: 2px; height: 22px; background: #dc2626;"></div>
  </div>
  <div style="flex: 0 0 54px; font-weight: bold; font-size: 13px;">
   $99.39
  </div>
 </div>
 <div style="display: flex; align-items: center; gap: 10px; margin-bottom: 7px;">
  <div style="flex: 0 0 120px; font-size: 13px;">
   Oct 5–11
  </div>
  <div style="flex: 1; position: relative; height: 18px; background: #f1f5f9;">
   <div style="width: 89.5%; height: 18px; background: #64748b;"></div>
   <div style="position: absolute; right: 0; top: -2px; width: 2px; height: 22px; background: #dc2626;"></div>
  </div>
  <div style="flex: 0 0 54px; font-weight: bold; font-size: 13px;">
   $99.58
  </div>
 </div>
 <div style="display: flex; align-items: center; gap: 10px;">
  <div style="flex: 0 0 120px; font-size: 13px;">
   Oct 12–18
  </div>
  <div style="flex: 1; position: relative; height: 18px; background: #f1f5f9;">
   <div style="width: 90%; height: 18px; background: #b45309;"></div>
   <div style="position: absolute; right: 0; top: -2px; width: 2px; height: 22px; background: #dc2626;"></div>
  </div>
  <div style="flex: 0 0 54px; font-weight: bold; font-size: 13px;">
   $99.60
  </div>
 </div>
 <p style="margin: 10px 0 0; font-size: 13px; color: #64748b;">Dollars repurchased divided by shares repurchased, from Strategy’s 8-K reports.</p>
</div>
<p>Weekly spending in the same reports ran from $139.3 million (a six-day week) to $176.3 million, $192.4 million and $193.1 million, so it hasn’t fallen as the average price rose. STRC closed at $97.72 on October 16, down from $99.53 the day before, <a href="https://news.bitcoin.com/market-updates/strategy-mstr-falls-msci-ruling-saylor-bitcoin-5b-profit/" rel="noopener noreferrer nofollow">Bitcoin.com News reported</a>. The filings don’t explain the pace.</p>
<h2 id="how-the-cash-has-been-refilled-before">How the cash has been refilled before</h2>
<p>This week’s $22.0 million from MSTR sales came from 140,872 shares, about $156 a share net. MSTR closed at $136.83 on October 16 after falling 9.6% on MSCI’s index rule.</p>
<p>Earlier reports show other sources. In the report filed <a href="https://www.sec.gov/Archives/edgar/data/0001050446/000119312526341297/mstr-20260810.htm" rel="noopener noreferrer nofollow">August 10</a>, Strategy sold 1,690 BTC for $108.6 million at an average of $64,262, and said the proceeds funded STRC repurchases. That report also shows $650 million of MSTR proceeds added to the USD Reserve. In the <a href="https://www.sec.gov/Archives/edgar/data/0001050446/000119312526361845/mstr-20260824.htm" rel="noopener noreferrer nofollow">August 24 report</a>, $136.4 million of MSTR proceeds paid for STRC repurchases and $300 million went to the reserve.</p>
<h2 id="three-marks-monday-s-filing-will-test">Three marks Monday’s filing will test</h2>
<p>Among the weekly reports from September 7 to October 18, last week had the highest STRC repurchase total, the lowest USD Cash balance and the highest average STRC price, by two cents. Monday’s filing, covering October 19–25, will show whether each mark holds.</p>
<div style="max-width: 560px; margin: 28px 0;">
 <div style="margin-bottom: 26px;">
  <div style="display: flex; justify-content: space-between; align-items: baseline; margin-bottom: 4px;"><strong>Weekly STRC repurchases</strong><span style="font-size: 13px; color: #475569;">$139.3M to $193.1M</span>
  </div>
  <div style="position: relative; height: 26px;">
   <div style="position: absolute; left: 0; right: 0; top: 11px; height: 4px; background: #e2e8f0;"></div>
   <div style="position: absolute; left: 13.3%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 62.9%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 66.1%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 89.1%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 90.1%; top: 4px; width: 18px; height: 18px; margin-left: -9px; border-radius: 50%; background: #b45309;"></div>
  </div>
  <div style="display: flex; justify-content: space-between; font-size: 12px; color: #64748b;">
   $130MLast week: highest of six$200M
  </div>
 </div>
 <div style="margin-bottom: 26px;">
  <div style="display: flex; justify-content: space-between; align-items: baseline; margin-bottom: 4px;"><strong>USD Cash</strong><span style="font-size: 13px; color: #475569;">$1.44B to $447.3M</span>
  </div>
  <div style="position: relative; height: 26px;">
   <div style="position: absolute; left: 0; right: 0; top: 11px; height: 4px; background: #e2e8f0;"></div>
   <div style="position: absolute; left: 94.5%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 81.8%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 59.1%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 39.4%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 21.9%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 4.3%; top: 4px; width: 18px; height: 18px; margin-left: -9px; border-radius: 50%; background: #b45309;"></div>
  </div>
  <div style="display: flex; justify-content: space-between; font-size: 12px; color: #64748b;">
   $400MLast week: lowest of six$1.5B
  </div>
 </div>
 <div style="margin-bottom: 10px;">
  <div style="display: flex; justify-content: space-between; align-items: baseline; margin-bottom: 4px;"><strong>Average price paid per STRC share</strong><span style="font-size: 13px; color: #475569;">$97.36 to $99.60</span>
  </div>
  <div style="position: relative; height: 26px;">
   <div style="position: absolute; left: 0; right: 0; top: 11px; height: 4px; background: #e2e8f0;"></div>
   <div style="position: absolute; right: 0; top: 2px; width: 2px; height: 22px; background: #dc2626;"></div>
   <div style="position: absolute; left: 12%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 35.7%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 41.3%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 79.7%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 86%; top: 6px; width: 14px; height: 14px; margin-left: -7px; border-radius: 50%; background: #94a3b8;"></div>
   <div style="position: absolute; left: 86.7%; top: 4px; width: 18px; height: 18px; margin-left: -9px; border-radius: 50%; background: #b45309;"></div>
  </div>
  <div style="display: flex; justify-content: space-between; font-size: 12px; color: #64748b;">
   $97Last week: highest of six$100 stated amount
  </div>
 </div>
 <p style="margin: 14px 0 0; font-size: 13px; color: #64748b;">Each dot is one weekly report from September 7 to October 18; the orange dot is October 12–18. The report for September 21–27 isn’t included, and two reports each show $176.3 million of repurchases. Source: Strategy 8-K reports.</p>
</div>
<p>Two scheduled events bear on the third mark. Shareholders vote on October 28 on daily record <a href="https://coindoo.com/strategy-sets-up-daily-strc-dividends-ahead-of-october-vote/" rel="noopener noreferrer nofollow">dates for STRC dividends.</a> According to Strategy’s <a href="https://assets.contentstack.io/v3/assets/bltf8d808d9b8cebd37/blt010e4e6c151ed627/6ad198303ac0952d22982f33/form-8-k_10-16-2026.pdf" rel="noopener noreferrer nofollow">October 15 filing</a>, if the amendments pass by October 31 and take effect by November 1, November’s dividends would be paid daily, totalling $1.00 a share at the 12% annual rate. Management says it will recommend keeping that rate until STRC shows sustained, healthy trading near $100, and last week’s buyback average was $99.60. Third-quarter results follow on October 29, TIKR reports.</p>
<p>MSCI is the other date. It publishes its list of affected companies on November 11, with changes taking effect at the close on November 30.</p>
<p style="text-align: center;"><em>This article is provided for informational purposes only and does not constitute financial or investment advice.</em></p>
<p>The post <a href="https://coindoo.com/strategy-bought-267-btc-and-raised-its-strc-buyback-cap/" rel="noopener noreferrer nofollow">Strategy Bought 267 BTC and Raised Its STRC Buyback Cap</a> appeared first on <a href="https://coindoo.com" rel="noopener noreferrer nofollow">Coindoo</a>.</p>

Strategy Bought 267 BTC and Raised Its STRC Buyback Cap

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