Saylor Teases More Bitcoin Buying as Strategy Spends Heavily on STRC Buybacks

Strategy chair Michael Saylor posted “There’s always room for more orange” on X on Sunday, the day the company usually signals fresh Bitcoin buys. Any official SEC filing is unlikely before Tuesday, since federal offices are closed Monday for Columbus Day. Strategy bought 334 BTC for $28.7 million between Sept. 28 and Oct. 4, lifting its holdings to exactly 848,000 BTC, according to an Oct. 5 filing.

STRC Preferred Stock Buybacks Outpace Bitcoin Buying

Over that same week, Strategy repurchased about 1.77 million shares of its STRC preferred stock for $176.3 million. That is more than six times its weekly Bitcoin budget, a sign that cash was heading to the preferred buyback rather than coins.

Strategy Share Sales and Cash Reserves Explained

Strategy raised $5.41 billion from new common shares in the third quarter and ended it with 1,666 more BTC than in June. He said filings allocate 9.5% of the raise to Bitcoin, with the rest going to a dollar reserve, cash, dividends and preferred buybacks.