Bitcoin began the critical week ahead of major economic data and policy decisions by briefly falling below $80,000 before recovering above that level, while corporate treasury activity painted a mixed picture. Strategy, the world’s largest publicly traded Bitcoin holder, did not purchase any BTC during the week of October 19–25, according to its October 26 filing with the U.S. Securities and Exchange Commission. Instead, the firm directed $204.9 million toward repurchasing 2,068,459 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC. Michael Saylor confirmed that Strategy holds 848,517 BTC and $5.1 billion in USD assets, enough to cover preferred stock dividends and interest payments for approximately 3.4 years.
Strategy’s dollar-per-Bitcoin basis remains at $75,446, giving its Bitcoin stack a value of about $64.02 billion. The company did not sell any stock through its at-the-market program during the week. The latest buyback continues a month-long pattern: in the October 12–18 week, Strategy spent $193.1 million on STRC versus $22.1 million for 267 BTC, while the prior week it was $192.4 million on STRC against $21.5 million on BTC. After the new repurchase, $956.8 million remains under the board’s $3 billion digital credit securities repurchase authorization.
While Strategy paused, other treasury operators kept accumulating. Strive CEO Matt Cole announced the purchase of an additional 6,182 BTC last week at an average price of $82,732, bringing Strive’s total holdings to 43,000 BTC. Bitmine, described as the world’s largest ETH holder, bought another 10,452 ETH, lifting its total to 6,051,933 ETH, or roughly 4.95% of the circulating ETH supply. Bitmine chairman Tom Lee said cryptocurrency pullbacks have been relatively shallow compared with the AI sell-off and called continued accumulation ‘further evidence that the cryptocurrency bull market has begun.’
Solana also attracted corporate buying. Nasdaq-listed DeFi Development Corp. announced an additional 5,346 SOL purchase, bringing its total SOL holdings to $2.595 million, while the firm also generates SOL and commission revenue through staking and operating its own validator. The purchase followed the Alpenglow consensus upgrade going live on Solana’s mainnet on October 21. CEO Joseph Onorati called Alpenglow ‘a landmark moment for Solana and cryptocurrencies more broadly,’ saying faster transaction finality expands possibilities for payments and financial markets.
Looking ahead, MSTR common stockholders are set to vote on October 28 on switching STRC and other preferreds to daily dividends, while MSCI’s November 11 review could clarify whether digital-asset treasury firms face index exclusion under new rules.
