Current outcome
Strategy continues prioritizing STRC buybacks to defend its ~$100 target price: as of Oct 11, 2026, USD Cash fell to $640.5M (from $1.61B on Aug 30), only $354.8M of its $2B STRC buyback authorization remained, and the USD Reserve declined to $4.88B. BTC holdings were 848,000 as of Oct 5. Shareholders vote Oct 28 on daily preferred dividends. At the recent burn rate, USD Cash could be depleted in about four weeks without replenishment.
Progress timeline
4 material updates- #01
Strategy prioritizes $950 million STRC buyback over expanding its Bitcoin treasury
Strategy has spent roughly $950.8 million repurchasing STRC preferred shares since July 20, more than twice its Bitcoin purchases over the same period, while keeping about $1 billion authorized for further buybacks.
Source evidence: CryptoSlate
- #02
Strategy has burned through 64% of its STRC rescue fund
Latest disclosure shows Strategy has spent about $1.28 billion, or 64%, of its $2 billion STRC repurchase authorization, leaving less than $724 million; it has repurchased 13.3 million STRC shares, roughly one in eight outstanding. Last week it spent $151.7 million at an average price of $98.86, up from an average of $86.52 in late July.
State after update: Strategy has used about $1.28 billion of its $2 billion STRC repurchase authorization, with less than $724 million remaining, and has repurchased about 13.3 million STRC shares. STRC opened at about $99.18, still below its stated $100 target and has traded below that target for most of its history.
Source evidence: Protos
- #03
Strategy opts for bigger spending on STRC buybacks over BTC purchases
During the week of Sept 29–Oct 5, Strategy bought 334 BTC for $28.7 million while repurchasing about 1.77 million STRC shares for $176.3 million; BTC holdings reached 848,000. It also filed a proxy seeking shareholder approval to move STRC, STRF, STRK and STRD to daily dividend payments, with a special meeting set for Oct. 28. Q3 BTC holdings rose only 1,666 BTC net as it bought 7,218 and sold 5,553; Q3 STRC repurchases totaled about $1.38 billion.
State after update: Strategy continues to prioritize STRC buybacks over Bitcoin accumulation: in the week ended Oct. 5, 2026, it bought 334 BTC for $28.7 million while repurchasing about 1.77 million STRC shares for $176.3 million, bringing BTC holdings to 848,000. Q3 net BTC increase was only 1,666 BTC, while STRC repurchases totaled about $1.38 billion. It is seeking shareholder approval to move STRC, STRF, STRK and STRD to daily dividend payments, with a vote on Oct. 28; STRC trades near $99.45, still below its $100 target.
Source evidence: Cointelegraph
- #04
Strategy’s USD Cash down 60% in seven weeks
As of Oct 11, 2026, Strategy's USD Cash fell 60% from $1.61B on Aug 30 to $640.5M; only $354.8M of its $2B STRC buyback authorization remained; the separate USD Reserve declined from $5.10B to $4.88B. At the ~$970M burn pace over less than seven weeks, USD Cash could run out in about four weeks absent replenishment.
State after update: Strategy continues prioritizing STRC buybacks to defend its ~$100 target price: as of Oct 11, 2026, USD Cash fell to $640.5M (from $1.61B on Aug 30), only $354.8M of its $2B STRC buyback authorization remained, and the USD Reserve declined to $4.88B. BTC holdings were 848,000 as of Oct 5. Shareholders vote Oct 28 on daily preferred dividends. At the recent burn rate, USD Cash could be depleted in about four weeks without replenishment.
Source evidence: Protos