Strategy Buys 334 Bitcoin and Reports a $21 Billion Gain in Q3

Strategy bought 334 bitcoin between October 1 and October 4 and reported a $21 billion gain on its digital assets in the third quarter. It also repurchased about $176 million of STRC over the week ended October 4.

In a Form 8-K filed October 5, Strategy said it acquired 334 BTC for $28.7 million, an average of $85,838.8 per bitcoin including fees. The purchase was funded with $15.7 million of net proceeds from MSTR at-the-market sales and $13.0 million of USD Cash. Holdings stood at 848,000 BTC as of October 4, acquired for $63.97 billion at an average cost of $75,440.7 per bitcoin, about 4% of bitcoin’s 21 million-coin supply. The company bought no bitcoin from September 28 through September 30, so the new coins account for the full move from 847,666 BTC at quarter-end.

Saylor posted the update on X: “Strategy reports a $21 billion gain on digital assets in Q3 2026. Last week, we acquired 334 $BTC and repurchased $176M of $STRC. As of 10/4/26, we hold 848,000 BTC and $5.7B of USD Assets.” He also put USD Duration at 3.6 years and STRC’s BTC Credit at 50 basis points, assuming a 10% bitcoin annual return, 40% volatility, and a bitcoin price of $84,289.

The filing puts the third-quarter gain at $20.91 billion, the figure behind the $21 billion in the release and in Saylor’s post, with a deferred tax expense of $1.88 billion. The digital-asset carrying value was $70.82 billion on September 30. Fair value had moved above cost during the quarter, reversing a $4.12 billion deferred tax asset tied to the June 30 bitcoin loss and cutting the tax expense from roughly $6.00 billion to $1.88 billion.

STRC again took more cash than bitcoin. Strategy repurchased 1,033,168 shares for $102.6 million from September 28 to September 30, and 740,634 shares for $73.7 million from October 1 to October 4 — 1,773,802 shares and $176.3 million in total. Of that, $154.1 million came from USD Cash and $22.2 million from interest on cash and short-term investments. Over the same stretch it used $142.5 million of the USD Reserve for preferred dividends and interest on debt.

As of October 4, the USD Reserve was $4.88 billion and USD Cash was $833.4 million, about $5.7 billion combined, down from $6.09 billion on September 20. Preferred-repurchase capacity left under the program was $547.2 million. Strategy sold 92,894 MSTR shares in the week for $15.7 million, all used for bitcoin, and sold no preferred stock. Remaining issuance capacity was $18.83 billion of MSTR and $17.51 billion of STRC.