Strategy’s Bitcoin Holdings Exceeded an Alternative Financing Model by 4,947 BTC

Strategy’s Bitcoin (BTC) holdings were 4,947 BTC above a counterfactual financing model’s estimate for Oct. 12. The scenario redirects funds tied to reserve building, STRC repurchases and dividends toward Bitcoin purchases. Strategy held 848,250 BTC on that date, while the alternative scenario put holdings at 843,303 BTC. The difference is a modeled outcome, not a separate batch of coins identified as bought directly with STRC proceeds. It reflects how the balance might have differed if money associated with the reserve, buybacks and dividends had instead gone toward Bitcoin. Estimated annual preferred-dividend obligations for Strategy reached $1.56 billion, compared with about $830 million earlier in 2026. An estimated $725 million of the increase was tied to STRC’s expansion.

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