Saylor Hints at More Bitcoin Buys as Strategy Closes September With $176M STRC Buyback

Strategy chair Michael Saylor teased investors on Sunday with a post on X reading "There's always room for more orange," signaling that the business intelligence firm may have added to its already massive Bitcoin treasury in the first week of October. However, any official confirmation will likely be delayed until Tuesday at the earliest, as US federal offices are closed Monday for the Columbus Day holiday before an SEC filing can be processed.

The hint follows an active end to September for Strategy, which spent more than six times its typical weekly Bitcoin buying budget on repurchasing its own STRC preferred stock. Between Sept. 28 and Oct. 4, Strategy acquired 334 BTC for $28.7 million, bringing its total holdings to exactly 848,000 BTC according to an Oct. 5 8-K filing. Over the same period, the company repurchased approximately 1.77 million shares of STRC for $176.3 million, a significant pivot toward shoring up its preferred equity rather than expanding its Bitcoin position.

Independent analyst Shanaka Anslem Perera noted that Strategy raised $5.41 billion from new common share issuances during the third quarter, ending the period with just 1,666 more BTC than it held at the end of June. According to Perera's review of SEC filings, only 9.5% of that raise was allocated directly to Bitcoin purchases, while the remainder went toward dollar reserves, cash holdings, dividends, and the STRC buybacks. "Raising capital does not necessarily mean buying Bitcoin," Perera told Cointelegraph, though he added that retained cash could fund larger purchases later and strengthen the balance sheet for common shareholders.

With Saylor's latest signal, market participants are now watching closely to see whether Strategy resumes its aggressive accumulation pattern or continues prioritizing preferred share repurchases and balance sheet management. The outcome of Tuesday's expected disclosure will likely set the tone for how investors interpret the company's capital allocation strategy heading into the final quarter of 2026.