Strategy bought no bitcoin and sold no shares under its at-the-market programme between 19 and 25 Oct, according to a Form 8-K filed on Monday. It repurchased 2,068,459 STRC preferred shares for $204.9 million instead. Strategy, which CryptoWatchDesk last covered on 19 Oct when it raised its buyback limit to $3 billion and added 267 BTC, still holds 848,517 BTC.
The pause is a funding story more than a bitcoin one. The buyback was paid from USD Cash, which fell to $242.4 million from $447.3 million a week earlier, a drop of 46%.
The Block says the week ends a five-week buying streak. With no ATM sales reported, the week brought no fresh equity money to put into bitcoin.
| Company, latest week | Bought | Holdings |
|---|---|---|
| Strategy (19-25 Oct) | 0 BTC; 2,068,459 STRC shares ($204.9M) | 848,517 BTC |
| Strive (17-23 Oct) | 6,182 BTC (avg ~$82,732) | 43,000 BTC |
| Bitmine (to 25 Oct) | 10,452 ETH | 6,051,933 ETH |
Source: company 8-K filings, 26 Oct 2026.
Strategy says $956.8 million remains under its preferred-stock repurchase programme and $1.0 billion under its MSTR programme. Its USD Reserve, held for dividends and interest, stood at $4.83 billion. Index treatment is the open question; see MSCI’s new screens for crypto treasury companies.
Strive moved the other way. It bought 6,182 BTC between 17 and 23 Oct, taking it to 43,000 BTC, its 8-K says. Its cash rose to $504.4 million from $317.5 million, and 7,000,000 SATS preferred shares are now outstanding, against none a week earlier.
Strive also signed a sales agreement with seven brokers, led by Cantor Fitzgerald and Barclays, to sell up to $1 billion of SATS stock at market prices, for a commission of up to 2.0%. That follows Strive’s 3,311 BTC purchase earlier this month.
The Block framed Strive as closing in on the second-largest corporate treasury. The Bitcoin Treasuries figures it cites still put Strive fourth, behind Metaplanet’s 44,000 BTC and Twenty One’s 43,514 BTC.
Bitmine Immersion Technologies added 10,452 ETH, reaching 6,051,933 ETH as of 25 Oct, according to a release filed with the SEC.
It also bought back 2.04 million of its own shares at an average of $22.48. “Crypto got pulled down by the same ‘risk off’ forces behind the AI sell-off,” chairman Tom Lee said in the release. The fund route to bitcoin exposure is in our spot bitcoin ETF explainer.
Bitcoin traded at $80,180 on Kraken at 14:54 UTC, below Strive’s average price for the week.
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This article is for information only and is not investment advice.