Strategy’s Bitcoin Holdings Rise 26% YTD as BTC Yield Stands at Negative 3.7%

Strategy’s Bitcoin holdings rose 26% year to date to 848,517 BTC as of Oct. 25, while its year-to-date BTC Yield was negative 3.7%, showing that total holdings and Bitcoin per assumed diluted share moved in different directions.

Strategy founder and Executive Chairman Michael Saylor said Oct. 29, “We’re at the beginning of the next bitcoin bull market.” The company also disclosed about $431.8 million in Bitcoin sales during 2026 to fund part of its preferred dividends and STRC buybacks.

Strategy’s results for the quarter ended Sept. 30 included $20.91 billion in operating income, equal to its $20.91 billion gain on digital assets. Net income was $19.53 billion, compared with $2.79 billion a year earlier. Revenue fell 3% to $125.4 million from $128.7 million. The figures distinguish the digital-asset gain from revenue, which was $125.4 million for the quarter.

BTC Yield is Strategy’s measure of the percentage change in Bitcoin per share, calculated using assumed diluted shares. The negative 3.7% reading covers the year to date through Oct. 25. It does not mean the company’s total Bitcoin balance fell, since its holdings increased 26%, and it is not a measure of shareholder investment return.

Preferred-stock dividends totaled $419.6 million for the quarter, while cumulative dividends paid on all preferred stock reached $1.48 billion. Strategy’s annualized STRC dividend rate was 12% as of Oct. 25.

Year to date, Strategy repurchased 20,980,508 STRC shares for about $2.04 billion, at an average of $97.39 per share. It received $5.4077 billion in net proceeds from at-the-market MSTR share sales during the third quarter.

Strategy had $5.07 billion in USD Assets as of Oct. 25. The company estimated that amount would cover 3.4 years of preferred dividend and interest payments at then-current rates.