+1,666 BTC between reported balances
What changed in Strategy’s latest weekly filing?
Compare two reviewed SEC filings, separate balances from weekly activity, and trace how share issuance, cash and reserves funded bitcoin, buybacks and dividends.
TWO FILINGS. ONE COMPARISON.
Reviewed Oct 2, 2026What changed this week?
Compare the latest reviewed weekly report with the one before it. These are disclosed reporting periods, not live balances.
1,469,165 common shares sold in the latest period
1,534,530 preferred shares repurchased in the latest period
| Balance | Sep 20, 2026 | Sep 27, 2026 | Difference |
|---|---|---|---|
| Reported bitcoin holdings | 846,000 BTC | 847,666 BTC | +1,666 BTC |
| USD Reserve | $5.04B | $5.02B | −$0.02B |
| USD Cash | $1.05B | $1.00B | −$0.05B |
Why +1,666 holdings, but 1,665 purchased? The reported balances and purchase count differ by 1 BTC when reconciled. The filings do not explain that difference. We retain each figure separately. The balance difference is a calculation, not a corrected purchase figure. Cash and reserve changes also compare rounded balances; they are not a complete cash-flow reconciliation.
Compare activity during each week
| Activity | Previous period | Latest period | Difference |
|---|---|---|---|
| Bitcoin purchased | 950 BTC | 1,665 BTC | +715 BTC |
| Bitcoin purchase cost | $75.7M | $142.7M | +$67.0M |
| MSTR shares sold through ATM | 0 | 1,469,165 | +1,469,165 |
| Net proceeds from MSTR ATM | $0.0M | $246.2M | +$246.2M |
| STRC shares repurchased | 1,771,238 | 1,534,530 | −236,708 |
| STRC repurchase cost | $174.0M | $151.7M | −$22.3M |
| USD Reserve used for dividends / interest | $57.4M | $22.1M | −$35.3M |
Reserve use: the previous filing combines preferred dividends and debt interest without separating the amounts. The latest filing identifies preferred dividends. Share sales shown here are ATM issuance during each period, not total shares outstanding or a calculated dilution percentage.
MSTR share sales$246.2MNet ATM proceeds
USD Cash used$48.1MExisting cash pool
USD Reserve used$22.1MExisting reserve pool
Bitcoin purchases$142.7M1,665 BTC purchased
STRC repurchases$151.7M1,534,530 shares
Preferred dividends$22.1MAll preferreds combined
$142.7M$103.5M$48.1M$22.1MPaths show disclosed allocations, not proportional widths. All amounts are USD. Cash and reserve figures above are amounts used during the period, not ending balances.
Share issuance funded the bitcoin purchase.
$142.7M of net MSTR ATM proceeds funded 1,665 BTC. The same period also included share issuance for a separate use: STRC repurchases. Read the filing
STRC buybacks drew on two sources.
$103.5M from MSTR ATM proceeds plus $48.1M from USD Cash supported STRC repurchases. Those disclosed funding figures sum to $151.6M; the separately reported repurchase total is $151.7M. We preserve the rounded figures instead of inventing another flow. Read the filing
The USD Reserve paid preferred dividends.
The filing identifies $22.1M of USD Reserve use for dividends on preferred stock. It does not allocate that total among the preferred tickers. The ending reserve balance is a separate stock of cash, not another funding flow. Read the filing
This diagram covers the allocations disclosed in this weekly filing. It is not a complete corporate statement of cash flows. The reported STRC funding components and repurchase total differ by $0.1M after rounding.
Read a change in context
A bitcoin purchase is only one part of a weekly disclosure. Common-stock issuance can fund both bitcoin and preferred-stock buybacks. Cash and the USD Reserve have different stated purposes. The comparison above keeps those activities separate and links the two original reports.
The diagram shows the uses identified in the latest reviewed weekly filing. It does not assign spending to undisclosed sources or estimate trades after the reporting period.
How this comparison is maintained
We review the original SEC documents, then update a shared data record. The reported holdings, comparison tables, funding diagram and downloadable data use that same record. Figures retain the precision used in each filing. Differences are calculations from those displayed figures, with rounding explained alongside them.
Changes are reviewed before publication. This page does not promise real-time prices, transactions or automatic updates.
Continue the research
Read the weekly explanation, inspect the complete purchase and sale record, or compare Strategy’s preferred stocks. The STRC page separates declared dividends from the proposed payment changes.