Strategy lifts Bitcoin holdings to 848,000 BTC before Oct. 29 update

what happened

TradingView reports that Strategy Inc Class A (NASDAQ:MSTR) purchased 334 BTC on Oct. 4 for about $28.7 million, at an average cost of $85,839 per coin. Its total holdings rose to 848,000 BTC. The company also sold 92,894 MSTR shares for $15.7 million. Cash stood at $833.4 million and the dollar reserve at $4.88 billion; as of Sept. 27, Strategy had $5.02 billion set aside for preferred dividends and debt service.

For the third quarter, Strategy reported $20.91 billion in Bitcoin-related fair value. Implied Bitcoin book value was $72.4 billion versus a $63.97 billion cost basis, corresponding to an implied BTC price of about $86,138. The company filed to change dividend distributions on STRC, STRF, STRK and STRD from twice-monthly or quarterly schedules to daily payments. A shareholder vote is scheduled for Oct. 28, while Strategy also bought about 1.77 million STRC shares for $176.3 million.

Recent debt and preferred-share issuance increases the number of securities outstanding, reducing the Bitcoin amount attributable to each Class A share. That measure is used in valuation and peer comparisons. Strategy will release its Q3 2026 results after U.S. trading ends on Oct. 29 and host a webcast at 5:00 PM ET that day, presenting what it describes as a major update to its Bitcoin-treasury strategy.

MSTR chief executive Michael Saylor wrote, “There’s always room for more orange,” a remark viewed as a signal that further purchases could follow. Because of the federal holiday, a formal SEC filing on purchases is not expected before Oct. 13. Capital Group’s Growth ETF bought 535,300 MSTR shares, taking its position to 2.19 million shares worth about $336 million. DeFiLlama data also put the company’s tokenized on-chain stock value at $491 million, the highest figure among firms.

why it matters

The market focus is split between a larger Bitcoin reserve and lower Bitcoin exposure per Class A share. The Oct. 28 vote and Oct. 29 treasury update may clarify MSTR’s capital structure and purchase plans.

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