Saylor Teases More Bitcoin Buying for Strategy After Big STRC Share Buyback
Saylor hints at fresh Bitcoin purchases ahead of Columbus Day
Strategy chair Michael Saylor posted the phrase "There's always room for more orange" on X on Sunday, a reference commonly used by Bitcoin supporters for the cryptocurrency. The post appeared to signal that the company, formerly known as MicroStrategy, may be planning another round of Bitcoin buys in early October.
However, investors will have to wait until at least Tuesday for official confirmation. Monday is the Columbus Day federal holiday in the United States, when government offices including the Securities and Exchange Commission (SEC, the US regulator for financial markets) are closed. Strategy must file an 8-K form with the SEC to officially disclose any new Bitcoin purchases.
What Strategy spent in early October2>
According to an 8-K form filed on October 5, Strategy bought 334 Bitcoin (BTC) for $28.7 million between September 28 and October 4. That brought the company's total holdings to exactly 848,000 BTC, as of the filing.
Six times the weekly budget went to preferred stock buybacks
- Between September 28 and October 4, Strategy repurchased roughly 1.77 million shares of its STRC preferred stock for $176.3 million.
- That spending on share buybacks was more than six times what the company spent on Bitcoin over the same week.
- In the broader third quarter, Strategy raised $5.41 billion from new common shares and ended the period with 1,666 more BTC than it held at the end of June.
- Per independent analyst Shanaka Anslem Perera's review of SEC filings, only about 9.5% of the new share capital was directed toward Bitcoin purchases. The rest went to a dollar reserve, cash, dividends, and preferred-share buybacks.
What an independent analyst says about Strategy's balance sheet
Analyst Shanaka Anslem Perera noted in a weekly newsletter and in comments to Cointelegraph that large capital raises do not automatically translate into more Bitcoin. "Raising capital does not necessarily mean buying bitcoin," he told Cointelegraph on Sunday. He also added that the company had not stopped buying BTC, and that retained cash could fund purchases at a later date.
What is confirmed
- Strategy holds exactly 848,000 BTC as of the October 5 SEC filing.
- The company bought 334 BTC for $28.7 million between September 28 and October 4.
- Strategy repurchased about 1.77 million STRC preferred shares for $176.3 million in the same period.
- The next official SEC filing disclosing any new purchases is not expected before Tuesday, October 13.
What is still unclear
- Saylor's post on X was a tease, not an announcement. There is no confirmed plan, price, or amount for any new Bitcoin purchase.
- How much of Strategy's accumulated cash will eventually be deployed toward Bitcoin versus other uses remains undetermined.
Why this matters
Strategy has become one of the most closely watched corporate Bitcoin buyers. When the company purchases large amounts of BTC, it tends to draw significant attention from investors tracking institutional demand. The gap between how much capital Strategy raises and how much it immediately puts into Bitcoin also shapes how shareholders assess the company's priorities. Analyst Perera's point — that cash on the balance sheet counts alongside Bitcoin per share — highlights that evaluating a corporate treasury does not stop at the coin count alone.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.