--- title: "Strategy Expands Preferred Stock Buyback Program to $3B Following $193M Repurchase Week" description: "The company allocated $193.1 million to STRC repurchases, lifting its buyback authorization by $1 billion while acquiring 267 bitcoin." url: https://basisdesk.news/news/strategy-raises-preferred-stock-buyback-cap-3-billion published: 2026-10-19T12:46:43.414Z modified: 2026-10-19T12:46:43.414Z section: Institutions & ETFs author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: neutral tickers: [BTC] tags: [Strategy, Michael Saylor, Bitcoin Treasury, STRC, MSTR, Stock Buyback] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # Strategy Expands Preferred Stock Buyback Program to $3B Following $193M Repurchase Week The company allocated $193.1 million to STRC repurchases, lifting its buyback authorization by $1 billion while acquiring 267 bitcoin. ## At a glance - **What happened:** Strategy raised its preferred stock buyback cap to $3 billion after repurchasing $193.1 million of STRC preferred shares and purchasing 267 BTC between Oct. 12 and Oct. 18. - **Why it matters:** The company committed nearly nine times more dollar capital to repurchasing its credit-like preferred shares than to bitcoin purchases during the weekly window. - **Who is affected:** Strategy equity investors, STRC preferred stockholders, and institutional observers tracking corporate bitcoin treasuries. - **What's next:** Strategy common stockholders will vote on Oct. 28 on whether STRC and its three other preferred stocks should begin paying dividends on a daily basis. - **Primary source:** [Strategy Raises Its Preferred Buyback Cap to $3 Billion After Another $193 Million STRC Week](https://unchainedcrypto.com/strategy-raises-its-preferred-buyback-cap-to-3-billion-after-another-193-million-strc-week/) — unchainedcrypto.com ## Key points - Strategy's board authorized a $1 billion increase to its preferred stock buyback cap, establishing a new maximum ceiling of $3 billion [1]. - Between Oct. 12 and Oct. 18, the firm spent $193.1 million repurchasing STRC stock and $22.1 million acquiring 267 BTC [1]. - Total holdings climbed to 848,517 BTC, while total dollar holdings stood at $5.3 billion as of Oct. 18 [1]. ## Editorial remark - **Context:** Strategy has progressively scaled its digital credit repurchases, doubling the original authorization from $1 billion to $2 billion before executing the latest $1 billion ceiling increase. - **Impact:** STRC preferred equity holders see immediate demand absorption via company capital, while common shareholders absorb mild equity dilution from ATM share sales used to fund digital asset additions. - **Watch:** Common shareholders are scheduled to vote on Oct. 28 regarding whether STRC and three other preferred stock tiers will distribute dividends on a daily schedule. Strategy has boosted its preferred stock buyback authorization by $1 billion to a maximum cap of $3 billion, according to an SEC Form 8-K filing submitted on Oct. 19 [1]. The expansion follows a seven-day window between Oct. 12 and Oct. 18 during which the treasury firm spent $193.1 million to repurchase 1,938,780 shares of its STRC preferred stock [1]. Over the same period, Strategy acquired 267 $BTC for $22.1 million at an average purchase price of $82,900 per coin, including fees [1]. The preferred stock buybacks outpaced Strategy's direct cryptocurrency acquisitions by roughly nine to one during the week [1]. That purchase brought the firm's total bitcoin holdings to 848,517 BTC, accumulated for an aggregate cost of $64.02 billion at an overall average of $75,446 per coin [1]. At the time of writing, $BTC traded around $82,516. The latest bitcoin allocation follows previous portfolio maneuvers, including when [Strategy allocated 9.5% of Q3 share proceeds to direct bitcoin purchases](https://basisdesk.news/news/strategy-allocates-q3-equity-proceeds-bitcoin-purchases). ## Treasury Reserves and Dividend Voting The expanded $3 billion ceiling covers all historic repurchases under what Strategy designates as its digital credit securities repurchase program [1]. Following the authorized increase, $1.16 billion remained open for buybacks as of Oct. 18, compared to $354.8 million remaining under the preceding $2 billion threshold a week prior [1]. A distinct buyback authorization for MSTR common stock maintained an unused $1.0 billion balance, with zero common shares repurchased across the weekly period [1]. Strategy funded the STRC buybacks via its USD Cash balance, which decreased from $640.5 million to $447.3 million across the week [1]. The firm generated the $22.1 million required for its bitcoin acquisition through $22.0 million in net proceeds raised from issuing 140,872 MSTR shares via its at-the-market equity program, alongside roughly $100,000 in cash reserves [1]. Separately, the company tapped its USD Reserve for $45.5 million to disburse preferred dividends, bringing that dedicated pool down from $4.88 billion to $4.83 billion [1]. Michael Saylor, the firm's executive chairman, stated on X that Strategy retained total dollar holdings of $5.3 billion [1]. Common shareholders will vote on Oct. 28 regarding an amendment allowing daily dividend payments across STRC and its three sister preferred equities [1]. ## Sources 1. [Strategy Raises Its Preferred Buyback Cap to $3 Billion After Another $193 Million STRC Week](https://unchainedcrypto.com/strategy-raises-its-preferred-buyback-cap-to-3-billion-after-another-193-million-strc-week/) — unchainedcrypto.com, 2026-10-19 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai