MicroStrategy's Bitcoin Buys Drop 84% in 2 Weeks. Why Is Saylor Slowing Down?

Strategy, the Nasdaq-listed company that holds more Bitcoin (BTC) than any other public firm, bought just 250 coins last week. Its stack now stands at 848,250 BTC.

Two weeks ago, the company formerly known as MicroStrategy added 1,665 BTC. Last week it bought 334, making this its second smaller purchase in a row.

How MicroStrategy’s Bitcoin Buys Shrank in 3 Weeks

The latest 250 BTC cost about $21.5 million, at an average of $86,194 per coin, according to the filing. For scale, Strategy bought 55,500 BTC in a single week in November 2024.

Strategy has acquired 250 $BTC and repurchased $192M of $STRC. As of 10/11/26, we hold 848,250 BTC and $5.5B of USD Assets. $MSTRhttps://t.co/PHEXogMumh

— Strategy (@Strategy) October 12, 2026

The slowdown does not reflect an empty bank account. MicroStrategy held about $4.9 billion in its dollar reserve, a cash pile set aside for dividends, according to its October 5 filing.

Instead, more of its money has gone into buying back its own shares. In the week to October 4, it spent $176.3 million repurchasing Stretch (STRC), a preferred stock that pays investors a monthly dividend.

That was roughly six times its Bitcoin spend, as BeInCrypto reported in its coverage of last week’s buyback-heavy filing. A week earlier, STRC buybacks of $151.7 million also topped the $142.7 million spent on Bitcoin.

Is MicroStrategy Losing Its Bitcoin-Buying Power?

Bitcoin trades near $83,283, up 0.19% in 24 hours, according to BeInCrypto’s Bitcoin price page.

At that price, Strategy’s coins are worth about $70.61 billion. Its average cost is $75,441 per coin. Gold advocate Peter Schiff argued that Strategy has lost its buying power because the STRC share sales that once funded its purchases have dried up.

Saylor has not slowed his signaling, however. He teased this purchase on Sunday with his usual chart of orange dots, one for each buy.

There’s always room for more orange. pic.twitter.com/hndZf0Acp7

— Michael Saylor (@saylor) October 11, 2026

Strategy still has about $18.8 billion of common stock it is authorized to sell, according to its September 28 filing. Its next filings will show how much of that money goes to Bitcoin and how much to buybacks.