Key Insights:
- Bitcoin price ended near its 24-hour low after retreating from roughly $84,200.
- MSTR stock sales supplied most of the funding for Strategy’s latest Bitcoin purchase.
- Strategy repurchased 1.93 million STRC shares for $192.4 million during the week.
Bitcoin price traded at $82,918.71 on October 12, near the $82,437.27 support and below the $84,231.08 resistance. CoinGecko’s 24-hour chart showed an early climb toward $84,200, followed by a sharp decline toward $82,500 and a partial rebound.
The price remained over $1,300 below the session high. It fell 3.5% over seven days and 25.8% over one year, then gained 7.2% over 30 days. The BTC price chart showed a 0.2% hourly gain and a 0.8% decline over 14 days.
CoinGecko listed $25.79 billion in 24-hour volume, a $1.668 trillion market capitalization, and $67.376 billion in perpetual open interest. It showed 20.097 million BTC in circulation, against a maximum of 21 million.
Strategy Adds 250 BTC to Its Holdings
Against that market backdrop, Strategy said it acquired 250 BTC from October 5 through 11. It paid an average of $86,194 in Bitcoin price per coin, spending $21.5 million. That purchase average exceeded the BTC price shown in CoinGecko’s October 12 snapshot. However, the price also remained above the company’s overall average acquisition cost.
The purchase brought Strategy’s holdings to 848,250 BTC, acquired for approximately $64 billion. The company reported an average cost of $75,444 per coin. It funded the recent acquisition primarily through $21 million in proceeds from the sale of MSTR stock.
As of October 11, Strategy held $640.5 million in cash and $4.88 billion in its USD reserve.
STRC Repurchases and Earlier Bitcoin Transactions
Meanwhile, Strategy bought back 1.93 million STRC shares for $192.4 million during the same reporting week. The preferred-share repurchase was larger than its BTC purchase, which historically would have had a direct impact on the Bitcoin price.. Strategy has described reducing dividend obligations as an aim of the STRC program. An analysis also described buying preferred shares at a price below the issue price as a potential gain for the company.
Strategy adopted a Digital Credit Capital Framework on June 29. It provided for a USD reserve covering dividends and interest. On August 2, Strategy sold 1,638 BTC at about $63,957 per BTC, below its then-reported average cost of $75,419. The next day, it disclosed authority to sell up to $1.25 billion in Bitcoin.
For the week ending September 1, Strategy bought 4,603 BTC, partly funded by $602.8 million from common stock sales. By figures dated September 15, it had spent about $950.8 million on STRC repurchases since July 20. That total exceeded 2.5 times its Bitcoin spending over the period.
During the week ending September 20, it acquired 950 BTC for $75.7 million and repurchased $174 million in STRC. Its holdings reached 846,000 BTC.
MSTR Stock, Valuation, and Bitcoin Yield
Meanwhile, MSTR stock rose 1.43% to $156.54 on October 12, gaining $2.20 from its previous close of $154.34. The one-day chart showed an early rise from roughly $153.50, followed by choppy trading near $158. Shares later pulled back but stayed above the previous close at 10:20 a.m. ET.
A September 18 analysis valued MSTR common equity at about 0.86 times the value of its Bitcoin holdings. It said issuing shares below that level to buy BTC would dilute existing shareholders. The analysis linked this valuation gap with stalled large Bitcoin purchases.
Strategy’s separate $1 billion common-stock buyback authorization remained unused. STRC shares are preferred equity, while MSTR stock represents common equity.
Michael Saylor reported a 3.5-year USD Duration and 52-basis-point STRC BTC Credit. His calculation assumed a 10% Bitcoin annual return, 40% volatility, and an $82,252 Bitcoin price.
Bitcoin critic Peter Schiff cited a negative 3.7% year-to-date Bitcoin yield for MSTR common stock. He noted that Strategy had used Bitcoin yield to measure performance. Schiff said Bitcoin per common share had fallen in 2026 and called the result a failure under that measure.
