The Strategy 811 Bitcoin purchase added $65.5 million in bitcoin to the company’s holdings, according to the reported 8-K filing. Strategy funded the buy through common stock sales, kept additional proceeds in cash, and separately repurchased preferred shares. For investors, the funding mix matters as much as the growing bitcoin balance.

Key takeaways

• Strategy bought 811 BTC between October 26 and November 1 at an average price of $80,846.
• Strategy’s total holdings reached 849,327 BTC, purchased for roughly $64.1 billion.
• Strategy raised roughly $164 million through MSTR common stock sales and retained $98.5 million in cash.
• Strategy separately spent around $208 million repurchasing about 2.1 million STRC preferred shares.

What did the Strategy 811 Bitcoin purchase add to its holdings?

The purchase lifted Strategy’s bitcoin holdings to 849,327 BTC, with a total acquisition cost of roughly $64.1 billion. Its average purchase price across those holdings now stands at $75,451 per coin.

According to the source report’s account of Monday’s 8-K filing, the Saylor-led company bought the additional coins between October 26 and November 1. Investors can check company disclosures through Strategy’s SEC filings.

The latest average purchase price of $80,846 sits above Strategy’s overall cost basis. That means this buy raised its average entry price rather than lowering it.

Saylor previewed the announcement Sunday with his familiar bitcoin tracker chart on X. His message was brief: “We found room for even more orange.”

How did Strategy fund the bitcoin purchase?

Strategy funded the purchase through MSTR common stock sales rather than new preferred stock issuance.

The company sold about 1.18 million MSTR shares for roughly $164 million. It divided those proceeds between bitcoin and cash:

• Strategy used $65.5 million to buy 811 BTC.
• Strategy kept the remaining $98.5 million in USD cash.

Separately, the company spent around $208 million buying back about 2.1 million shares of its STRC preferred stock. The reported figures do not establish that the common stock sale funded that entire repurchase.

The Strategy 811 Bitcoin purchase therefore shows more than continued accumulation. After relying heavily on preferred issuance during the year, Strategy is now adding bitcoin while also building cash and reducing part of its preferred share base.

Why the funding mix matters to shareholders

Common stock issuance increases the share count and can dilute existing shareholders. Investors should assess whether growth in bitcoin holdings and other assets offsets that dilution.

Preferred buybacks serve a different purpose. They reduce outstanding preferred shares, but they also consume cash. Strategy still has about $18.6 billion available under its MSTR at-the-market program, giving it capacity to raise more money without guaranteeing further purchases.

Why did Strategy report $19.5 billion in net income?

Strategy’s reported third-quarter net income rose to $19.5 billion mainly because bitcoin’s price increased during the quarter.

The results, released Thursday, included a $20.9 billion operating gain tied to bitcoin under fair-value accounting. Net income was $2.79 billion a year earlier.

The distinction matters: the bitcoin gain was a paper gain, not cash generated by selling coins. It cannot be treated as fresh money available for purchases, dividends, or buybacks.

Saylor described the period as the start of the next bitcoin bull market. He pointed to bitcoin trading about 21% above its 200-week moving average. That was his market assessment, not a guarantee of future returns.

The same release said CFO Andrew Kang will step down November 5, with COO Reza Virasteh taking over the role in January.

What changes are planned for preferred dividends?

Strategy shareholders approved a proposal allowing four preferred stocks to accrue dividends daily, including weekends and holidays.

The proposal covers STRF, STRC, STRK, and STRD. It received 99.3% support among votes cast and was intended to improve liquidity, reduce reinvestment delays, and support price stability.

Dividend rates and total obligations would remain unchanged. Daily accrual also should not be confused with shareholders receiving a cash payment every day.

The new schedule remained subject to board approval and regulatory filings. Implementation was expected to begin in November 2026 for STRC and January 2027 for the other three preferred stocks.

How does Strive’s latest purchase compare?

Strive bought 124 BTC between October 24 and 30, a smaller addition than Strategy’s 811 BTC purchase.

The Matt Cole-run firm paid about $80,526 per coin, bringing its holdings to 43,124 BTC. Its previous weekly purchase exceeded 6,000 coins.

Cole has described buying “hand over fist” during price dips. He has also presented perpetual preferred equity as a funding model designed to avoid forced bitcoin sales.

Strive’s cash position fell about $14 million to $490 million during the period. The company also continued to hold 505,000 shares of Strategy’s STRC preferred stock.

What market risks should investors watch?

Bitcoin price swings, share dilution, and cash demands remain key risks for investors in bitcoin treasury companies.

The source report also describes an October 29 Binance security breach estimated at $6.3 billion. It says the attack began with a compromised DevOps laptop and that Chainalysis and TRM Labs linked it to North Korea’s TraderTraitor group.

According to that account, Binance said it had frozen roughly $3 billion and would cover losses using its SAFU fund and company reserves. These details are claims in the supplied report, not independently verified findings here.

The report places bitcoin’s decline toward $76,000 alongside the breach news. Bitcoin fell about 3.6% over the week, while MSTR dropped about 9% and closed Friday at $130.51. Strive shares fell around 20%. Bitcoin was near $78,000 at the source report’s time of writing.

The Strategy 811 Bitcoin purchase shows that the company continues to accumulate coins while changing how it manages funding and cash. Investors should look beyond the headline holdings figure and track dilution, preferred obligations, and available cash—especially because accounting gains do not provide spendable funds.

(Source: https://bitcoinmagazine.com/news/strategy-mstr-adds-811-bitcoin-strive-too)

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