Strategy Bitcoin treasury financing and preferred-stock structure

Description Strategy is using Bitcoin holdings, capital raises, asset sales and preferred-stock mechanics to fund its crypto-heavy balance-sheet strategy. Overview Strategy reported record third-quarter income largely from rising digital-asset values rather than software revenue. Shareholders approved daily dividend accrual mechanics, and the company said daily STRC dividends would begin Nov 1. After disclosing $431.8 million of 2026 Bitcoin sales for dividends and repurchases, Strategy bought 811 Bitcoin and repurchased $208.2 million of preferred shares. Why it matters The process matters for Strategy investors, preferred shareholders, Bitcoin-linked equity buyers and creditors assessing payout mechanics and volatility. Key details • Strategy held 849,327 BTC after the later 811-Bitcoin purchase. • Third-quarter net income was $19.53 billion. • The quarter included a $20.91 billion unrealized increase in Bitcoin holdings. • Software revenue fell 3% year over year to $125.4 million. • Strategy raised $164 million by selling 1.18 million MSTR shares.