MicroStrategy Buys $250M in Bitcoin, Calling the Crypto ‘Superior to Cash’

[fillippone]

Oh man! This thread has been so neglected! I fondly remember the race to update it when Strategy bought new bitcoin!
Yes, they are finally in the buy camp again, and I think this is more than welcome news. Now they've reinforced the capital structure, and I can’t wait for them to set a new all-time high in Bitcoin under their custody.

[nikola22]

Strategy is seeking shareholder approval to pay daily dividends on four of its U.S.-listed preferred stocks STRF, STRC, STRK and STRD. Strategy's board approved the proposal on Sept. 24. Under the proposed terms, STRC, STRD, STRF and STRK would have a dividend record date every calendar day, including weekends and holidays. Any dividend declared for that date would be paid on the next business day.

STRC would be the first to switch, with an initial record date of Nov. 1 and payment the following day if shareholders approve the amendments. STRF, STRD, and STRK would follow in January.

https://www.strategy.com/mstr/vote

interesting, that Strive announced that SATA would begin paying dividends every business day on June 16. now Strategy want to use the same approach. and SATA price now is $100.

[Free Market Capitalist]

Strategy is seeking shareholder approval to pay daily dividends on four of its U.S.-listed preferred stocks STRF, STRC, STRK and STRD. Strategy's board approved the proposal on Sept. 24. Under the proposed terms, STRC, STRD, STRF and STRK would have a dividend record date every calendar day, including weekends and holidays. Any dividend declared for that date would be paid on the next business day.

STRC would be the first to switch, with an initial record date of Nov. 1 and payment the following day if shareholders approve the amendments. STRF, STRD, and STRK would follow in January.

https://www.strategy.com/mstr/vote

interesting, that Strive announced that SATA would begin paying dividends every business day on June 16. now Strategy want to use the same approach. and SATA price now is $100.

HAHA!

SATA is a copy of STRC by Strive, which pays a higher interest rate—13% per year—and the fact that it has recently managed to return to par does not mean it is not facing the main problem that these types of products face: the potential loss of share value.

As we can see in your chart, it has lost nearly 20% twice so far in 2026. If these types of products—both SATA and STRC—end up succeeding, they’ll be the first of their kind in market history, because what usually happens is that hybrid products offering high interest rates end up losing more due to the stock’s value than the interest they pay; many even drop to zero, ultimately going bankrupt (not that I’m saying that will happen in this case).

The problem with SATA and STRC is that the upside is 0. You’ll never be paid more than $100 per share. However, the downside is infinite. You currently receive an annual dividend of between 11% and 13%, but the stock price could drop to $80, $50, or even as low as $0.

For that, better buy Bitcoin, and hold it in cold storage.

[Taskford]

Well just notice this when browsing random things on internet.

And Strategy just made a announcement regarding on their recent purchase.



People can also verify this purchase, since Saylor also made a post about this https://x.com/saylor/status/2104542254857633997

It seems their long time pause is done and they are back in business for accumulating more Bitcoins to add in their portfolio.

[fillippone]

HAHA!

SATA is a copy of STRC by Strive, which pays a higher interest rate—13% per year—and the fact that it has recently managed to return to par does not mean it is not facing the main problem that these types of products face: the potential loss of share value.

Oh, wow, so they took this idea from this instrument.
I am not sure a daily dividend is making this instrument more secure, for sure the usual monthly "wave" of selling and buying to ride the dividend trading will be ironed out.

[Ambatman]

People can also verify this purchase, since Saylor also made a post about this https://x.com/saylor/status/2104542254857633997

It seems their long time pause is done and they are back in business for accumulating more Bitcoins to add in their portfolio.

They also bought back some shares of STRC something they have been doing for sometime now
And it seems the impact is showing now.

https://www.strategy.com/press/strategy-initiates-strc-repurchases-and-announces-ongoing-buyback-policy_07-27-2026?utm_source=chatgpt.com
They are still going on what they stated few months ago about buying when it's below and selling when above.

They didn't add but they got the money for the purchase of Bitcoin and strc via ATM and little from cash reserve
https://www.stocktitan.net/sec-filings/MSTR/8-k-strategy-inc-reports-material-event-f881b176793c.html?utm_source=chatgpt.com

[Donneski]

Well just notice this when browsing random things on internet.

And Strategy just made a announcement regarding on their recent purchase.



People can also verify this purchase, since Saylor also made a post about this https://x.com/saylor/status/2104542254857633997

It seems their long time pause is done and they are back in business for accumulating more Bitcoins to add in their portfolio.

Last month it was 4,603 BTC, this month they decided to go for a lower number but the fact that they've returned to consistent buying after the pause is a development that most of us have found interesting because of the underlying capital allocation strategy.
I remember reading speculations that suggested that their pause then was a response to market volatility or leverage saturation. Returning to their normal DCA will serve as a strong signal to their corporate followers who's been watching from the sidelines.

[Bluedrem]

Last month it was 4,603 BTC, this month they decided to go for a lower number but the fact that they've returned to consistent buying after the pause is a development that most of us have found interesting because of the underlying capital allocation strategy.
I remember reading speculations that suggested that their pause then was a response to market volatility or leverage saturation. Returning to their normal DCA will serve as a strong signal to their corporate followers who's been watching from the sidelines.

To be honest, when MicroStrategy first sold Bitcoin, I was surprised to see Michael Seller break his promise. But the strategy was to pay shareholders and increase the reserve Usdt by selling Bitcoin.
However, the most promising thing was that they did not sell Bitcoin and transfer the cash elsewhere, but used the money to buy back shares and increase the cash savings. We have always seen MicroStrategy buy the most Bitcoin when the price of Bitcoin starts to rise.
However, returning to buying after a break may be a sign of more comfort.
However, if I were asked to discuss the positive and negative aspects of their large amount of Bitcoin savings, I would say that if more people save Bitcoin, albeit in small amounts, than a single person would save such a large amount of Bitcoin, the decentralization of Bitcoin would still be better maintained in the future. If too many Bitcoins are accumulated by a single individual or group, Bitcoin can lose its decentralization.

[Ambatman]

To be honest, when MicroStrategy first sold Bitcoin, I was surprised to see Michael Seller break his promise. But the strategy was to pay shareholders and increase the reserve Usdt by selling Bitcoin.

It was inevitable
They can't just hold indefinitely
Even the US government had sold some of their gold some years ago
The surprising part was it came too sudden
When they were barely how many years into switching from Micro strategy to strategy.

If too many Bitcoins are accumulated by a single individual or group, Bitcoin can lose its decentralization

No it won't
Bitcoin being decentralised is hard coded
It needs to change in its consensus so any other centralization cover an aspect not bitcoin
Like mining centralization.
Large ownership doesn't mean control like POS coins.
It's more of an economic influence.

[fillippone]

It is interesting to note that with this last purchase, Strategy is back to Bitcoin HODL ATH.




They completely replenished their BTC stacks, replenished their Debt servicing reserve, and STRC is back to trading at par.
Mission complete?

[Taskford]

It is interesting to note that with this last purchase, Strategy is back to Bitcoin HODL ATH.




They completely replenished their BTC stacks, replenished their Debt servicing reserve, and STRC is back to trading at par.
Mission complete?

Yeah they look great seeing those purchases they made, but its still premature to call that their mission is already complete.

Even if we have seen them replenished their debts, the big test for them at the moment if BTC can still hold its current price or if it pumps more, then their STRC also perform good and stay on its baseline level.

Looks like the real situation happened now is they succeed to stabilize their balance sheet, but there's provably changes will happen depends on how market moves.

[Ambatman]

They completely replenished their BTC stacks, replenished their Debt servicing reserve, and STRC is back to trading at par.
Mission complete?

TbS I wasn't even keeping track of their holdings that much
And it might look good on paper especially the recovery of the number of Bitcoin now in ATH holding
But the Bitcoin per share compared to then has dropped
On STRC is the scar it's still there that Strategy had to use repurchase to cover things up. .

On the Bitcoin that would have similar share prior to the first sale.
June total was around 847363/388.617M
Bitcoin per share =0.00218

Now ADSO is 451.577M
To get the current Bitcoin needed it would be 0.00218×451577000 = 984,644.628 BTC would need to be Held
At current share quantity to be similar with prior sales
Since Strategy stated they focusing on Btc per share.
This is quite similar to how we usually check bitcoin performance without accounting for inflation.

https://www.strategy.com/shares
Link to get the number of shares and diluted.

[Free Market Capitalist]

TbS I wasn't even keeping track of their holdings that much
And it might look good on paper especially the recovery of the number of Bitcoin now in ATH holding
But the Bitcoin per share compared to then has dropped
On STRC is the scar it's still there that Strategy had to use repurchase to cover things up. .

On the Bitcoin that would have similar share prior to the first sale.
June total was around 847363/388.617M
Bitcoin per share =0.00218

Now ADSO is 451.577M
To get the current Bitcoin needed it would be 0.00218×451577000 = 984,644.628 BTC would need to be bought
At current share quantity to be similar with prior sales
Since Strategy stated they focusing on Btc per share.
This is quite similar to how we usually check bitcoin performance without accounting for inflation.

See, this is reasoning at the highest level. When I see people talking about strategy, in a very high percentage of cases they do so without understanding how the company operates. In contrast, this comment comes from someone who understands very well how it works.

Just a correction regarding your calculation: 984,644.628 BTC would be the total the company would need to hold today to have the same number of bitcoins per share as it did back then. In other words, the difference—the number of bitcoins they would need to buy—would be about 137,000, not nearly a million as you say. It’s not the same thing.

In any case, it’s a pleasure to debate at this level.

And, yeah, STRC is back at par but not because it is an infinite money glitch, rather due to repurchases. And the money they've used to make those buybacks and replenish their cash reserves has come from constantly diluting shareholders, as I've been saying for some time now.

[Ambatman]

Just a correction regarding your calculation: 984,644.628 BTC would be the total the company would need to hold today to have the same number of bitcoins per share as it did back then. In other words, the difference—the number of bitcoins they would need to buy—would be about 137,000, not nearly a million as you say. It’s not the same thing.

Thank You for the correction
It was more of an error in English than calculation I was meant to say to be held at current share level.
It's amazing how one can reread something and still miss a mistake
Wonders of the brain.

they've used to make those buybacks and replenish their cash reserves has come from constantly diluting shareholders

And a cheat code. Doesn't really affect them much but their investors.
It's quite similar to how many believe the $80K plus bitcoin is today
Is same like one of two year ago.

[fillippone]

TbS I wasn't even keeping track of their holdings that much
And it might look good on paper especially the recovery of the number of Bitcoin now in ATH holding
But the Bitcoin per share compared to then has dropped
On STRC is the scar it's still there that Strategy had to use repurchase to cover things up. .

On the Bitcoin that would have similar share prior to the first sale.
June total was around 847363/388.617M
Bitcoin per share =0.00218

Now ADSO is 451.577M
To get the current Bitcoin needed it would be 0.00218×451577000 = 984,644.628 BTC would need to be bought
At current share quantity to be similar with prior sales
Since Strategy stated they focusing on Btc per share.
This is quite similar to how we usually check bitcoin performance without accounting for inflation.

<...>
In any case, it’s a pleasure to debate at this level.

I had a spreadsheet tracking Sats per Shares in Microstrategy, and I might have shared it here on the thread a long time ago.
Now there are plenty of websites to track this metric( in a better way).



It's not ATH, but quite close, honestly.

[Free Market Capitalist]

I had a spreadsheet tracking Sats per Shares in Microstrategy, and I might have shared it here on the thread a long time ago.
Now there are plenty of websites to track this metric( in a better way).



It's not ATH, but quite close, honestly.

The question now is whether that chart—now that they’ve managed to bring STRC back to par—can continue to rise, in which case what’s happened in recent months will be seen as just a bump in the road. I’m skeptical, but I’m not ruling anything out, and as we all know, it will depend largely on the price of Bitcoin. Just as we had a disappointing 2025 in terms of price, we could have a very good 2027, which would fuel Strategy’s momentum.

[LFC_Bitcoin]

@saylor
More orange than ever.

https://x.com/saylor/status/2106721794761879957


I’m going to guess this was a bigger buy than he has been doing in recent months.

[Ambatman]

I’m going to guess this was a bigger buy than he has been doing in recent months.

Yeah
Even their previous purchase was a little small imo with performance and past actions
I thought they were undergoing a cautious approach before.
Mnav according to them is 1.22 so they would have engaged in ATM
I'm sure they won't sell STRC to finance and may use from their cash reserve.


From their tracker, they believe with current rate of purchase they might be able to hit 1 million BTC around Jan 2028.
https://tnorth.com/tools/strategy-1m-btc/?utm_source=chatgpt.com

[fillippone]

Let me play the “first to update” game:




More importantly, according to Micheal Saylor:

USD Duration is 3.6 yrs and STRC's BTC Credit is 50 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $84,289. Learn more about Strategy's credit metrics:

https://www.strategy.com/credit/risk

[avp2306]

@saylor
More orange than ever.

https://x.com/saylor/status/2106721794761879957


I’m going to guess this was a bigger buy than he has been doing in recent months.

If we base on the timeline of the post, it seems that post tackles up their 334 BTC purchase and that is more smaller compare on their past purchase which is 1665 BTC last September.

Let me play the “first to update” game:




More importantly, according to Micheal Saylor:

USD Duration is 3.6 yrs and STRC's BTC Credit is 50 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $84,289. Learn more about Strategy's credit metrics:

https://www.strategy.com/credit/risk

Seems nice if we read their report.

But if you look at the comments of that post made by Saylor https://x.com/saylor/status/2107079051525362126 it seems that people still not impressed with situation happening.