TLDR
- Michael Saylor posted “Connecting the dots” on X, hinting at a new Bitcoin purchase.
- MSTR is down more than 18% over the past month and about 48% year to date.
- STRC closed Friday at $99.84, back near its $100 par value after a 2026 low around $74.
- Bitcoin trades near $75,900, just above Strategy’s average cost of $75,451 per coin.
- MSCI is set to announce its index review decisions on November 11.
Strategy’s MSTR stock closed at $128.93 on Friday, November 6. The stock is down more than 18% over the past month, per TradingView data.
Michael Saylor has dropped another hint. On Sunday, November 8, he posted his Bitcoin tracker chart on X with the caption “Connecting the dots.”
Connecting the dots. pic.twitter.com/mID8wo0WHq
— Michael Saylor (@saylor) November 8, 2026
The post did not say whether Strategy bought more Bitcoin or how much it spent. Still, his posts like this have often come before a Monday filing.
That filing is usually a Form 8-K with the SEC. It lists the coins bought, the average price and how the company paid for them.
Bitcoin was trading near $75,900 on Sunday. That is just above Strategy’s overall average cost of $75,451 per coin.
What the Last Purchase Looked Like
Strategy’s last disclosed buy came on November 2. It picked up 811 BTC for about $65.5 million between October 26 and November 1.
The average price was $80,846 per coin, including fees. That is well above where Bitcoin sits today.
Holdings reached 849,327 BTC after that purchase. The total cost to date is $64.08 billion.
The company paid for it by selling 1,178,552 MSTR common shares. Those sales brought in $164 million in net proceeds.
Of that, $65.5 million went to Bitcoin. Another $98.5 million went to the cash balance.
No preferred shares were sold in that period. A separate buyback took in 2,092,035 STRC shares for $208.2 million in cash.
STRC Climbs Back Toward Par
STRC is Strategy’s Stretch preferred stock. It closed Friday at $99.84, up 0.38% on the day.
It traded between $99.50 and $99.84 on about 1.61 million shares of volume. Earlier this year it slid as low as around $74.
STRC holders also approved daily dividends, which began on November 1. The stock uses a variable dividend rate meant to keep it trading near $100.
Saylor said the company can issue preferred stock to raise money. It can also buy it back to cut dividend payments.
Strategy ended November 1 with about $4.79 billion in its dollar reserve. It also held $132.7 million in separate cash.
The mNAV ratio, which compares the equity value with the Bitcoin holdings, sits near 1.12 times. That is based on the company’s own dashboard.
Outside factors have not helped. Spot Bitcoin ETFs saw about $1.28 billion in net outflows from November 2 to 6, including $411.9 million on Friday.
MSTR is still up around 27% over three months. Bitcoin has pulled back from a recent high above $80,000.
Next up is MSCI’s index review on November 11. Strategy has said index-tracking funds hold about 13 million MSTR shares, or 3.1% of its basic outstanding shares.
