Strategy, Strive Add 935 Bitcoin in Latest Purchases

Last week, Strategy acquired an additional 811 bitcoin. The company, led by Michael Saylor, spent approximately $65.5 million on the purchase, with an average price of $80,846 per coin from October 26 through November 1, as disclosed in an 8-K filing on Monday. That transaction lifted its total bitcoin holdings to 849,327 BTC, acquired for about $64.1 billion at a cost basis of $75,451 per coin.

This time, the funds were not sourced from fresh preferred stock. Strategy sold approximately 1.18 million MSTR common shares, raising around $164 million. Of that, $65.5 million went into bitcoin, with the remaining $98.5 million held as cash. Additionally, the firm used roughly $208 million to repurchase about 2.1 million shares of its STRC preferred stock.

For most of the year, Strategy relied on preferred stock offerings to finance its bitcoin buys. Now, the company is employing share buybacks to streamline its preferred equity structure while continuing to accumulate coins.

On Sunday, Saylor hinted at the acquisition with his customary tracker chart and a statement that circulated widely on X: “We found room for even more orange.”

The purchase came a few days after Strategy reported its Q3 2026 earnings on Thursday. Net income reached $19.5 billion, compared with $2.79 billion a year earlier, driven by a $20.9 billion operating gain linked to the rise in bitcoin prices during the quarter, though this gain is non-cash under fair-value accounting. Saylor described it as the beginning of the next bitcoin bull market and noted that bitcoin was trading about 21% above its 200-week moving average. The same filing indicated that CFO Andrew Kang will step down on November 5, with COO Reza Virasteh assuming the role in January.

Additionally, Strategy shareholders recently voted 99.3% in favor of a proposal that allows four preferred stocks — STRF, STRC, STRK, and STRD — to accrue dividends on a daily basis, including weekends and holidays. The change aims to enhance liquidity, minimize reinvestment lag, and improve price stability, all while leaving dividend rates and total commitments unchanged. The new dividend schedule still requires board approval and regulatory filings, with implementation anticipated to start in November 2026 for STRC and in January 2027 for the other preferred issues.

Strive adds bitcoin as well

Strive is maintaining its position as the second-largest public bitcoin holder. The company, led by Matt Cole, acquired 124 BTC from October 24 to 30 at roughly $80,526 per coin, bringing its total holdings to 43,124 BTC.

This acquisition is notably smaller than the prior week, in which it added over 6,000 coins, but Cole remains consistent with his stated strategy. He has described the firm as buying "hand over fist" during price declines, positioning perpetual preferred equity as a funding method that prevents forced liquidation.

Over the same period, Strive's cash reserves fell by roughly $14 million to $490 million, and it continues to hold 505,000 shares of Strategy's STRC preferred stock.

Binance hack rattles both stocks

The most significant crypto event last week was not a purchase. On October 29, Binance suffered a security breach that the exchange now estimates at $6.3 billion, originating from a compromised DevOps laptop.

Blockchain analytics companies such as Chainalysis and TRM Labs have attributed the attack to North Korea's TraderTraitor group, with the theft reportedly completed in about 20 minutes. Binance stated that it has frozen approximately $3 billion of the stolen assets and will absorb losses through its SAFU fund and corporate reserves.

In response to the news, bitcoin dropped toward $76,000 and ended the week down roughly 3.6%.

Strategy shares declined about 9% last week, closing Friday at $130.51. The firm still has roughly $18.6 billion in MSTR shares available under its at-the-market program, suggesting further purchases are probable if market conditions allow.

Strive's stock fell approximately 20% over the week. At the time of writing, bitcoin is trading around $78,000.