The short version
- Strategy buys more Bitcoin: 1,036 BTC for $81.9 million at $79,012 a coin from November 2 to 8, paid for with new MSTR shares; it now holds 850,364 BTC at a $75,456 average cost.
- Bitcoin trades right at that cost after closing Sunday at $74,851, below it, so the whole stack is barely in profit and the newest coins are about 4.4% under water.
- STRC buybacks took more again: $188.3 million this week and $794.5 million in four weeks, with only $560.3 million left in the program.
- Next: MSCI’s final index decision on MSTR, shortly after 22:00 UTC on Wednesday, November 11 (5:00 p.m. in New York).
$75,456. That is what Strategy has paid, on average, for every Bitcoin it owns, and on Monday the market spent the day trading right on top of it.
Strategy buys more Bitcoin anyway. Michael Saylor’s company bought 1,036 BTC for $81.9 million from November 2 to November 8, at an average of $79,012 a coin, according to its 8-K filing on Monday. It now holds 850,364 BTC, bought for $64.16 billion in total. The newest batch is already about 4.4% under water.
So is the whole stack still in profit? Only just, and not every hour of the day.
Michael Saylor posted the update at 13:04 UTC (8:04 a.m. in New York), leading with the buy and the buyback:
Strategy has acquired 1,036 $BTC and repurchased $188M of $STRC. As of 11/8/26, we hold 850,364 BTC and $4.9B of USD Assets. $MSTR strategy.com/press/strategy…
Where the Money Came From This Week
This Strategy Bitcoin purchase was paid for entirely with new MSTR shares. Strategy sold 2,051,348 common shares for $283.8 million after fees, about $138 a share, and sold no preferred stock at all. That price looks high next to today’s stock, but MSTR closed at $142.54 on Wednesday before dropping 9.3% to $129.30 on Thursday.
Less than a third of that went into Bitcoin. Another $188.3 million bought back 1,887,464 STRC preferred shares, at about $99.76 each, just under the $100 face value. The last $13.6 million went to USD Cash, the pot Strategy keeps for Bitcoin, buybacks and other uses.
The new coins cost more than the old ones. Each time Strategy buys more Bitcoin above its average, that average creeps up, this week from $75,451 to $75,456 a coin.
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Strategy Buys More Bitcoin, but STRC Takes More Again
For the fourth week in a row, STRC took more money than Bitcoin did, and the buybacks now come close to $800 million.
That adds up to $794.5 million on STRC and 2,114 BTC in a month. Every share Strategy retires is one it no longer pays a dividend on. The separate USD Reserve, now $4.77 billion, covered $21.1 million of preferred dividends this week.
The buyback has a ceiling, though. Only $560.3 million is left in the preferred buyback program, down from $748.6 million a week ago. In other words, about three more weeks like this one would use it up.
SIDE TRAIL: Strategy Buys Bitcoin Again: 811 BTC as It Spends $208M on STRC
Is Strategy’s Bitcoin Still in Profit?
Yes, by a hair. Bitcoin trades at $75,520 at the time of writing, about $64 above Strategy’s average cost. That makes its 850,364 BTC worth roughly $64.22 billion, against $64.16 billion paid.
It wasn’t in profit on Sunday night. Bitcoin closed the day at $74,851 on Binance, under the line, and touched $73,510 in the last 24 hours. Treasury tracker Priced in Bitcoin put the same picture on a chart this afternoon:
$BTC is hovering at Strategy's ($MSTR) average cost per coin of $75,456.
MSTR is weaker too. The stock trades at $128.80, about 7% below the $138 Strategy got for its new shares, and it faces MSCI’s index decision this week.
TRAIL MAP: Strategy Break-Even Price: Bitcoin Sits Just 6.8% Above $75,446
Bitcoin Price vs Strategy Average Cost: Where Are the Levels?
Between the two moving averages, with Strategy’s cost in the middle. Bitcoin sits below its 50-day moving average at $81,708 and above the 200-day at $73,210. That 200-day is the next real floor below the Strategy average cost. A daily close back above $79,012 would put this week’s purchase in profit; resistance above that sits at $81,196.
MSCI publishes its final index list, MSTR included, shortly after 22:00 UTC on Wednesday, November 11 (5:00 p.m. in New York).
VikingXBT has been trading crypto since 2017. The focus is futures, onchain data and automation. Onchain flows get checked before a chart is trusted, and anything repetitive gets automated. VikingXBT built Base Camp's own onchain scanner, which flags bundlers, snipers, dev holdings and wallet clusters in one view, and backtests strategies before trading them.
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