Strategy (formerly known as MicroStrategy) stock MSTR was in the red on Monday, reversing an early gain as Bitcoin retreated from a session high of $84,227 to $82,788.
The decline came after the company disclosed its smallest Bitcoin purchase of the year, adding 250 BTC to its holdings over the past week.
The Bitcoin treasury company acquired the cryptocurrency between October 5 and October 11 at an average price of $86,194 per Bitcoin, according to its filing with the US Securities and Exchange Commission.
The purchase was valued at approximately $21.5 million, according to the company’s announcement.
The latest acquisition brings Strategy’s total Bitcoin holdings to 848,250 BTC, accumulated at an average purchase price of $75,444 per coin.
The company said its holdings had cost approximately $64 billion, including fees and expenses.
Strategy adds 250 Bitcoin in smallest purchase of 2026
The 250 BTC acquisition marks Strategy’s smallest Bitcoin purchase in 2026 and its 14th-smallest overall since the company began building its Bitcoin treasury.
At current prices, the company’s holdings were valued at approximately $70.6 billion.
The position represents more than 4% of Bitcoin’s maximum supply of 21 million coins and implies paper gains of around $6.6 billion.
However, Strategy’s latest purchase price of $86,194 per Bitcoin was above the cryptocurrency’s reported trading level of $82,788 at the time of writing.
The company’s accumulation strategy remains central to its business, with its growing Bitcoin holdings exposing its financial position to changes in the cryptocurrency’s market value.
Share sales and preferred stock buybacks fund purchase
Strategy financed the latest Bitcoin acquisition using proceeds from the sale of its Class A common stock and cash reserves.
The company sold 125,183 MSTR shares during the week for approximately $21 million.
It used those proceeds, together with funds from its USD Cash reserves, to finance the Bitcoin purchase.
Strategy also repurchased 1,932,145 STRC preferred shares for approximately $192.4 million under its digital credit securities repurchase programme.
As of October 11, the company held $4.88 billion in its USD Reserve and another $640.5 million in USD Cash.
It also reported that approximately $354.8 million remained available under its digital credit securities repurchase programme.
Separately, around $1 billion remained available under its MSTR stock repurchase programme, according to the company’s disclosure.
The company also said $18.8 billion worth of MSTR shares remained available for issuance and sale under its at-the-market stock offering programme.
These figures highlight the range of financing tools Strategy uses to manage its Bitcoin accumulation and capital structure.
TD Cowen maintains $260 price target on Strategy
Strategy’s latest purchase comes as analysts assess the outlook for Bitcoin and the company’s shares.
TD Cowen raised its Bitcoin price forecasts on Thursday but maintained its $260 price target on Strategy.
The brokerage said dilution and the company’s financial obligations would likely limit the potential upside for shareholders.
The $260 target implies approximately 70% upside for MSTR.
TD Cowen’s analysts forecast Bitcoin reaching around $109,000 by the end of the year and $280,000 by 2029.
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