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Strategy Resumes Bitcoin Buying

Strategy Resumes Bitcoin Buying

Verified · 22 Sept 2026BitcoinSep 22, 2026

Strategy purchased 950 bitcoin for approximately $75.7 million between September 14 and 20, its first acquisition since late August, bringing holdings to 846,000 BTC — over 4% of eventual supply — per an 8-K filing reported by The Block and CoinDesk. The company simultaneously repurchased approximately $174 million of its STRC preferred shares, trading below par. Coverage noted bitcoin's rally above $85,000 turned Strategy's position from roughly $10 billion in unrealised losses weeks ago to an $8.3 billion gain.

Strategy: paper first, coins second

Last week Strategy spent $75.7 million on bitcoin — 950 coins, its first purchase in three weeks.

The same week it spent $174 million buying back its own preferred stock.

The Strategy machine spent twice as much shrinking its STRC obligation as it did buying bitcoin.

Buying back your own expensive paper below par is sensible treasury work.

But it tells us the limiting factor on the world's largest corporate bitcoin buyer isn't conviction. It's the cost of the money it borrowed to become what it is.

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