Bitcoin Magazine
Strategy (MSTR) Adds 811 Bitcoin, Strive (ASST) Follows Suit With 124 as Both Keep Stacking
Strategy acquired an additional 811 bitcoin in the previous week. Led by Saylor, the organization deployed approximately $65.5 million at an average purchase price of $80,846 per coin spanning October 26 to November 1, according to an 8-K filing submitted on Monday. This transaction elevates total holdings to 849,327 BTC, amassed for roughly $64.1 billion at an average cost basis of $75,451.
Capital for this acquisition did not originate from new preferred stock issuance on this occasion. Instead, Strategy sold roughly 1.18 million shares of MSTR common stock for approximately $164 million, allocated $65.5 million toward bitcoin, and placed the remaining $98.5 million into USD cash. The company also utilized around $208 million to repurchase about 2.1 million shares of its STRC preferred stock.
Having relied heavily on preferred stock issuance to finance purchases throughout much of the year, the firm is presently employing buybacks to clean up its preferred stack while continuing to accumulate coins.
Saylor hinted at the acquisition on Sunday via his traditional tracker chart alongside a remark that gained widespread attention on X: “We found room for even more orange.”
The purchase followed Strategy’s third-quarter financial report released on Thursday. Net income reached $19.5 billion, climbing from $2.79 billion during the same period last year, propelled by a $20.9 billion operating gain associated with the appreciation of bitcoin prices throughout the quarter. Under fair-value accounting rules, this gain represents a paper profit rather than actual cash. Characterizing this as the commencement of the next bitcoin bull market, Saylor noted that bitcoin was trading roughly 21% above its 200-week moving average. The accompanying press release also indicated that CFO Andrew Kang will step down on November 5, with COO Reza Virasteh assuming the role in January.
Additionally, Strategy shareholders recently approved a proposal permitting four preferred equities—STRF, STRC, STRK, and STRD—to accrue dividends daily, encompassing weekends and holidays, with 99.3% of the cast votes favoring the measure. The modification aims to enhance liquidity, minimize reinvestment delays, and boost price stability while keeping dividend rates and overall obligations unchanged. This updated payment structure remained contingent upon board approval and regulatory submissions, with rollout anticipated to launch in November 2026 for STRC and January 2027 for the remaining preferred stocks.
Strive adds bitcoin as well
Strive remains active in the competition for second place among public corporate holders. Managed by Matt Cole, the firm incorporated 124 BTC between October 24 and 30 at a rate of roughly $80,526 per coin, pushing its reserve up to 43,124 BTC.
Although this purchase falls short of its output from the previous week—when over 6,000 coins were added—Cole maintains a consistent strategy. He has expressed that the enterprise buys “hand over fist” during market dips and has structured the funding model around perpetual preferred equity to mitigate the risk of forced liquidation.
Strive’s cash reserves contracted by approximately $14 million down to $490 million over this same timeframe, while it concurrently maintains ownership of 505,000 shares of Strategy’s STRC.
Binance hack rattles both stocks
Meanwhile, the most prominent development in the crypto sector last week centered on a security incident rather than an acquisition. On October 29, Binance suffered a breach currently estimated at $6.3 billion, which originated from a compromised DevOps laptop.
Blockchain analytics organizations, including Chainalysis and TRM Labs, have attributed the breach to North Korea’s TraderTraitor collective, with the asset drain executing in approximately 20 minutes. Binance reports that it has successfully frozen roughly $3 billion of the misappropriated funds and intends to absorb losses utilizing its SAFU fund and corporate reserves.
In response to the news, bitcoin drifted toward $76,000, registering a decline of about 3.6% over the course of the week.
Strategy’s stock retreated approximately 9% over the week, concluding Friday’s session at $130.51. The company still retains roughly $18.6 billion of MSTR capacity available through its ATM program, suggesting further purchases are likely if market conditions remain favorable.
Shares of Strive experienced a decline of around 20% over the week. At the time of writing, bitcoin trades near $78,000.
Frequently Asked Questions
How many bitcoin does Strategy hold?
Strategy holds a total of 849,327 BTC, acquired for roughly $64.1 billion at an average price of $75,451 per coin.
How many bitcoin does Strive hold?
Strive holds a total of 43,124 BTC following its acquisition of 124 coins between October 24 and 30.
Who is stepping down as CFO of Strategy?
CFO Andrew Kang is stepping down on November 5, with COO Reza Virasteh taking over the role in January.
What caused bitcoin to slide toward $76,000?
Bitcoin slid toward $76,000 following a security breach on Binance estimated at $6.3 billion on October 29.
