STRATEGY SOLD 6,948 BITCOIN IN 2026 AT ABOUT $62,152 EACH — ITS Q3 RELEASE GAVE ONLY THE $431.8 MILLION — ITS NEXT BUYS COST $81,477

Strategy’s third-quarter results, filed at 20:03 UTC on October 29, 2026, say: “The Company has sold approximately $431.8 million of bitcoin year to date 2026 to fund a portion of its preferred stock dividends and STRC buybacks.” It doesn’t say how many coins. The weekly 8-Ks do: 32 in late May, 1,363 on June 29 and 30, 2,225 from July 1 to 5, 1,638 from July 27 to August 2 and 1,690 from August 3 to 9. That’s 6,948 bitcoin for $431.83 million, about $62,152 each after fees.

Follow the money. Those coins paid preferred holders and bought back STRC below its $100 face. Then, from August 24 to September 27, Strategy bought 7,218 bitcoin for $588.1 million, about $81,477 each, paid for with new MSTR shares and USD Cash. Its average cost across all 848,517 coins is $75,446. It sold about 18% under that average and bought more about 8% over it.

The release leads with holdings up 26% for the year. Its own per-share measure, BTC Yield, is minus 3.7% for the same stretch, which it also states as a BTC Gain of minus 24,947 coins. Every coin sold to pay the preferred comes straight out of the bitcoin behind each common share. The release doesn’t connect the two.

Nothing says the selling is over. The board has authorized bitcoin sales to fund preferred dividends and interest “as they become payable,” and to fund buybacks. STRC moves to daily dividends on November 1, 2026. At the time of this writing, bitcoin was $77,804.