Strategy bought and sold no bitcoin from 19 to 25 October and sold no shares under its at-the-market program, ending a run of weekly purchases that began in mid-September. An 8-K filed on 26 October, as reported by The Block and Decrypt, left holdings at 848,517 BTC. The stack was acquired for $64.02 billion at an average of about $75,446 per coin, including fees and expenses. The Block put the market value near $67.9 billion, more than 4% of supply. The company did not say why the buying stopped. The prior week it bought 267 BTC for $22.1 million, after 250 BTC for $21.5 million the week before that.
The $204.9 million went to STRC, not bitcoin
Instead, Strategy repurchased 2,068,459 shares of STRC, its Variable Rate Series A Perpetual Stretch preferred stock, for $204.9 million. The cash came from its USD cash reserve. It bought back no other class of security. As of 25 October, the USD reserve was $4.83 billion and USD cash was $242.4 million, down from $447.3 million a week earlier, Decrypt reported. The company said on X that it held 848,517 BTC and about $5.1 billion of dollar assets. A one-week pause is not a change of strategy by itself. It does remove the steady bid that smaller buys had been providing while bitcoin sits under $80,000, the tape in today's market lead.
Strive bought. A MARA-linked transfer is not a sale.
The rest of the treasury cohort did not move as one. Strive acquired 6,182 BTC between 17 and 23 October for about $511.4 million, at an average near $82,732, taking its stack to 43,000 BTC, according to its 26 October disclosure cited by The Crypto Times. It also opened an at-the-market program to sell up to $1 billion of SATS perpetual preferred stock. Separately, Lookonchain reported a transfer of close to 1,000 BTC, roughly $81 million, from a wallet it linked to miner MARA Holdings to Galaxy Digital. A transfer to a trading firm is not proof of an open-market sale. Strategy still dominates the public-company list. Metaplanet, Twenty One, Strive and MARA sit behind it. Read how the shares traded into last week's high in our 22 October business note, and follow the rest of the business desk.