How much bitcoin did Strategy buy in 2026?

Strategy (MSTR) disclosed 26 purchases of 50 BTC or more between 1 January 2026 and 11 October 2026: 182,697 bitcoin for about $14.31B, according to its Forms 8-K.

Did Strategy overpay for its bitcoin in 2026?

No. Measured against EnsoTrade's smart routers on the recorded order books of the same days, Strategy's raw price averaged $134 per bitcoin (−16.9bp) lower: its desk got about 308 more bitcoin for the same dollars, mostly in its largest weeks.

What was Strategy's best-executed bitcoin purchase of 2026?

9–16 February 2026: 2,486 BTC at $67,710, which beat EnsoTrade's smart routers by $1,204 per bitcoin.

Which Strategy purchase cost the most against the market?

14–20 September 2026: 950 BTC at $79,670, which paid $1,975 per bitcoin more than EnsoTrade's smart routers.

Strategy’s bitcoin purchases in 2026, scored

Name: Strategy bitcoin purchases 2026, execution scored
Creator: EnsoTrade
License: https://www.ensotrade.tech/terms-of-service

Strategy Inc. (NASDAQ: MSTR) files every bitcoin purchase in a Form 8-K. Here is each one, 1 January 2026 to 11 October 2026, set against what EnsoTrade’s smart routers would have paid for the same dollars on the same days.

Updated 19 October 2026 · 26 purchases of 50 BTC or more · 182,697 BTC · $14.31B

−$134 / BTC · −16.9bp

Strategy’s desk got about 308 more bitcoin for the same $14.31B than our smart routers. It won 10 of 26 purchases.

How hard that number is to break

Where it comes from: Strategy’s largest weeks. In the 7 weeks of 10,000 BTC or more its desk was ahead by about $196 / BTC, and won 4 of them.
Its smaller weeks go the other way: in the 19 weeks under 10,000 BTC our price was lower by about $143 / BTC, and Strategy won 6.
No fee stripped at all: Strategy’s filed all-in price comes out within 1bp of ours.
A stricter timing assumption moves it to +$39 / BTC.
Against the market itself: in 16 of 26 purchases, Strategy’s raw price sat above the market’s own volume-weighted average for the same trading hours, by −11bp BTC-weighted.

Every purchase

Window	BTC	Filed	Raw	EnsoTrade	Per BTC	bp
1–4 Jan	1,283	90,391	90,233	89,851	+382	+43
5–11 Jan	13,627	91,519	91,359	91,729	−370	−40
12–19 Jan	22,305	95,284	95,118	95,395	−277	−29
20–25 Jan	2,932	90,061	89,904	89,666	+237	+26
26 Jan–1 Feb	855	87,974	87,820	87,778	+43	+5
2–8 Feb	1,142	78,815	78,677	78,570	+107	+14
9–16 Feb	2,486	67,710	67,592	68,796	−1,204	−175
17–22 Feb	592	67,286	67,168	67,357	−188	−28
23 Feb–1 Mar	3,015	67,700	67,582	67,383	+198	+29
2–8 Mar	17,994	70,946	70,822	70,770	+52	+7
9–15 Mar	22,337	70,194	70,071	70,546	−475	−67
16–22 Mar	1,031	74,326	74,196	74,236	−39	−5
1–5 Apr	4,871	67,718	67,600	67,498	+102	+15
6–12 Apr	13,927	71,902	71,776	71,557	+219	+31
13–19 Apr	34,164	74,395	74,265	74,726	−460	−62
20–26 Apr	3,273	77,906	77,770	78,011	−241	−31
4–10 May	535	80,340	80,200	80,902	−703	−87
11–17 May	24,869	80,985	80,844	80,669	+175	+22
1–7 Jun	1,550	65,332	65,218	64,313	+905	+141
8–14 Jun	1,587	63,024	62,914	62,733	+180	+29
15–21 Jun	520	67,068	66,951	65,293	+1,657	+254
24–30 Aug	4,603	80,318	80,178	79,596	+581	+73
14–20 Sep	950	79,670	79,531	77,556	+1,975	+255
21–27 Sep	1,665	85,681	85,531	85,940	−409	−48
1–4 Oct	334	85,839	85,689	85,068	+621	+73
5–11 Oct	250	86,194	86,043	85,995	+49	+6
All 26, BTC-weighted	182,697				−134	−16.9

Read each row as one week at that size, not a verdict on Strategy’s desk; the year is the number to carry. Each window links to its own page.

Questions

How much bitcoin did Strategy buy in 2026?: Strategy (MSTR) disclosed 26 purchases of 50 BTC or more between 1 January 2026 and 11 October 2026: 182,697 bitcoin for about $14.31B, according to its Forms 8-K.
Did Strategy overpay for its bitcoin in 2026?: No. Measured against EnsoTrade's smart routers on the recorded order books of the same days, Strategy's raw price averaged $134 per bitcoin (−16.9bp) lower: its desk got about 308 more bitcoin for the same dollars, mostly in its largest weeks.
What was Strategy's best-executed bitcoin purchase of 2026?: 9–16 February 2026: 2,486 BTC at $67,710, which beat EnsoTrade's smart routers by $1,204 per bitcoin.
Which Strategy purchase cost the most against the market?: 14–20 September 2026: 950 BTC at $79,670, which paid $1,975 per bitcoin more than EnsoTrade's smart routers.

Compare: Strive’s 2026 bitcoin purchases, scored · both companies

Get this for your own buys →

How a filed price is stripped to raw

When a filing states its average price “inclusive of fees and expenses,” we divide out an estimated 17.5bp stack for prime brokerage, the desk, market impact and custody. Raw price = filed price ÷ 1.00175. Where a filing says “net of fees” or carries no fee language, nothing is stripped. Our own fees always stay in our price.

The EnsoTrade price comes from our smart routers and smart models, run on the recorded order books of the same days for the same dollars. The routing and the models are proprietary.

Limits, stated rather than buried

Every EnsoTrade figure is a counterfactual: priced on real recorded order books, but not filled. A real order of this size changes the market it trades into.
Conservative on venues. Our prices use the books of a single US exchange. Spreading the same orders across more venues lowers the price we would pay, so every figure here would move in our favour, not against it.
Neither company discloses its bitcoin buying day by day. Its timing inside each window is our estimate from the filings.
The 17.5bp stack is an estimate: neither company discloses its custody, execution or commission costs.
Purchases under 50 BTC are excluded. A multi-day window measures when a company bought as well as how well.

Sources

Strive, Inc. Forms 8-K, CIK 1920406.
Strategy Inc. Forms 8-K, CIK 1050446.
Recorded order books and trades from a US exchange, covering every window.

Prepared by EnsoTrade from public filings and public market data. Neither company has reviewed it. Nothing here is investment advice. All scored purchases · Strive · Strategy