Strategy Buys 1,036 More Bitcoin as Holdings Top 850,000 for the First Time

Published November 9, 2026, 6:00 PM PKT. Based on Strategy's Form 8-K filed with the U.S. Securities and Exchange Commission on November 9, 2026 (primary source), as reported by The Block and Decrypt, with market data from crypto.news.

Strategy bought 1,036 Bitcoin ($BTC) for about $81.9 million between November 2 and November 8, 2026, lifting its holdings to 850,364 coins, the first time the company has held more than 850,000, according to a Form 8-K filed with the U.S. Securities and Exchange Commission on Monday, November 9, 2026. The purchase, at an average price of $79,012 per coin, makes Strategy the holder of more than 4% of Bitcoin's 21 million supply cap.

The filing puts Strategy's total Bitcoin ($BTC) cost at about $64.16 billion, an average of $75,456 per coin including fees and expenses. The company remains by far the largest corporate holder of Bitcoin ($BTC), ahead of Metaplanet at 44,000 coins, Tether-backed Twenty One at 43,514, Strive at 43,124 and MARA at 35,577, according to data from Bitcoin Treasuries cited by The Block.

The 1,036-coin buy that pushed holdings past 850,000

The purchase is Strategy's second straight weekly buy, and it is larger than the week before, when the company resumed buying with 811 coins for $65.5 million after a one-week pause, according to Decrypt. Executive Chairman Michael Saylor signaled the filing in advance, posting the company's Bitcoin ($BTC) acquisition tracker chart on Sunday alongside the statement, "Connecting the dots," according to The Block.

Strategy funded the purchase by selling 2,051,348 shares of its Class A common stock, MSTR, under its at-the-market program for about $283.8 million in net proceeds, according to the filing. About $18.34 billion worth of MSTR shares remain available for issuance and sale under that program, the company said.

Buybacks again outspent the Bitcoin purchase

The same $283.8 million in stock-sale proceeds also funded a $188.3 million repurchase of Strategy's STRC preferred shares, more than twice what the company spent on Bitcoin ($BTC) in the week. Strategy bought back 1,887,464 STRC shares between November 2 and November 8, down from $208.2 million of STRC repurchases the previous week, according to Decrypt. The remaining $13.6 million of the proceeds went to the company's USD Cash account.

Strategy's separate USD Reserve, which covers dividends on its preferred stock and interest on its debt, stood at $4.77 billion as of November 8, after the company paid out $21.1 million in preferred dividends during the week, according to Decrypt. USD Cash rose to $146.2 million. About $560.3 million remains available under the company's preferred stock repurchase program, and $1 billion under its program for buying back MSTR stock.

Shareholders approved daily dividends on Strategy's four preferred stocks last month, starting with STRC on November 1, according to Decrypt. The buyback-heavy split of the week's proceeds continues a pattern MABOnChain has tracked all autumn, in which Strategy has repeatedly spent more defending its preferred shares than adding to its Bitcoin ($BTC) stack.

Bitcoin still trades below Strategy's average cost

The milestone arrived while Bitcoin ($BTC) traded below the price Strategy paid for its stack on average. According to crypto.news price data, Bitcoin ($BTC) traded near $74,500 on November 9, below the $75,456 average cost in the filing, which leaves the 850,364-coin holding underwater by roughly $813 million at that price. MABOnChain reported on November 9 that Bitcoin ($BTC) first fell below Strategy's average purchase price on November 8.

Being below the average cost does not require Strategy to sell any Bitcoin ($BTC), and nothing in the filing signals a sale. The company's shares felt the same pressure as the coin, with MSTR falling 2.1% last week to close at $128.93 on Friday, while Bitcoin ($BTC) slipped 3.2% over the same period, according to The Block.

The MSCI decision lands on November 11

The filing comes two days before index provider MSCI is due to publish the list of companies affected by its new rules on firms dominated by a single asset, which could remove Strategy from its equity indexes, according to Decrypt. Strategy has pushed back publicly against the proposal, arguing that its Bitcoin ($BTC) treasury model should not disqualify it from index membership, as MABOnChain reported.

An MSCI removal would not change Strategy's Bitcoin ($BTC) holdings, but it would force index-tracking funds to sell MSTR shares, adding pressure to a stock that has already fallen with the coin. The decision, due November 11, is the next date that matters for Strategy shareholders after this filing.

Sources

• The Block, 'Connecting the dots': Michael Saylor's Strategy buys another 1,036 bitcoin for $82 million as holdings top 850,000 BTC, November 9, 2026 (primary source: SEC Form 8-K filed November 9, 2026; 1,036 BTC for $81.9 million at $79,012 average, November 2 to November 8; 850,364 BTC total, more than 4% of supply cap; $64.16 billion total cost, $75,456 average; 2,051,348 MSTR shares sold for $283.8 million, $18.34 billion remaining under ATM program; STRC repurchase of 1,887,464 shares for $188.3 million; USD Reserve $4.77 billion, USD Cash $146.2 million; Saylor "Connecting the dots" post; MSTR down 2.1% to $128.93, Bitcoin down 3.2% last week; top five treasury holders)
• Decrypt, Strategy Buys $82M in Bitcoin, Buys Back $188M of STRC, November 9, 2026 (secondary reporting: second straight weekly purchase; prior week 811 BTC for $65.5 million after a one-week pause; STRC buyback $188.3 million, down from $208.2 million; $13.6 million remainder to USD Cash; $21.1 million in preferred dividends paid; $560.3 million remaining under preferred repurchase program, $1 billion under MSTR buyback program; daily dividends approved, starting with STRC on November 1; MSCI decision due November 11)
• CoinLab, Strategy Buys 1,036 BTC for $81.9M, Repurchases $188M of STRC, November 9, 2026 (secondary reporting: 8-K submitted about 8:00 AM ET on November 9, 2026; purchase funded by MSTR stock sales)
• crypto.news, Bitcoin price drops toward $74K as crypto liquidations top $1 billion, November 9, 2026 (secondary reporting: Bitcoin traded near $74,500 on November 9, down roughly 2% over 24 hours after recovering from Sunday's drop toward $73,700)
• MABOnChain, Bitcoin Falls Below Strategy's Average Purchase Price of $75,451, Leaving Its 849,327 Coins Underwater, November 9, 2026 (secondary context: Bitcoin first fell below Strategy's average purchase price on November 8, 2026)
• MABOnChain, Strategy Tells MSCI Bitcoin Does Not Need You as $2.8 Billion of Index Money Is at Stake, November 2026 (secondary context: Strategy's public pushback against MSCI's proposed single-asset rules)

This article is news reporting and is not investment advice.