Strategy Buys $65.5M Bitcoin After $6.3B Binance Hack

3 min read

Bitcoin treasury company Strategy resumed purchases on Monday, November 2, according to its official announcement, acquiring 811 Bitcoin for $65.5 million between October 26 and November 1, 2026. Following the purchase, Strategy held 849,327 BTC acquired for $64.08 billion, at an average cost of $75,451 per coin.

Executive Chairman Michael Saylor confirmed: “Strategy has acquired 811 $BTC and repurchased 208M of STRC.

As of 11/1/26, we hold 849,327 BTC and $4.9B of USD Assets.” The company also had approximately $748.6 million remaining under its preferred-share repurchase programme.

The purchase, disclosed in a regulatory filing after a one-week buying pause, came amid cryptocurrency market losses following the Binance cyberattack. The exchange said customer funds were “completely safe” and pledged to cover losses.

The $6.36 billion Binance breach occurred on October 29, affecting assets across ten blockchains. Bitcoin subsequently fell approximately 5%, dropping below $80,000 as concerns spread through cryptocurrency markets.

Bitcoin Holdings and Share Buybacks

Strategy paid an average of $80,846 per Bitcoin during the acquisition period. The company financed the purchase through its open-market equity programme, selling 1,178,552 shares of MSTR common stock for approximately $164 million in net proceeds.

Of those proceeds, $65.5 million funded the cryptocurrency purchase, while the remaining $98.5 million was allocated to Strategy’s general USD Cash account.

The company simultaneously spent $208.2 million repurchasing 2,092,035 shares of STRC, its variable-rate preferred stock. The transaction reduced outstanding preferred shares while drawing on existing dollar liquidity.

Following those transactions, general USD Cash declined to $132.7 million from $242.4 million a week earlier. Strategy’s separate USD Reserve, intended to cover preferred dividends and debt interest, stood at $4.79 billion after dividend payments totalling $43.4 million.

Strategy reported combined dollar assets of approximately $4.9 billion and a USD Duration of 3.3 years, its estimate of how long those assets could support dividend and interest obligations.

Strategy Expands Its Bitcoin Treasury

Following the purchase, Strategy held 849,327 BTC acquired for $64.08 billion, at an average cost of $75,451 per coin.

Executive Chairman Michael Saylor confirmed: “Strategy has acquired 811 $BTC and repurchased 208M of STRC. As of 11/1/26, we hold 849,327 BTC and $4.9B of USD Assets.”

The renewed buying followed a pause during which Strategy had continued repurchasing preferred shares. Its latest allocation therefore combined additional exposure to Bitcoin with a reduction in outstanding preferred equity.

Approximately $748.6 million remained available under the company’s preferred-share repurchase programme, leaving capacity for further transactions.

Binance Attack Shakes Cryptocurrency Markets

According to the incident reporting, attackers exploited an EIP-7702 multi-signature arrangement involving Binance hot wallets. Binance CEO Richard Teng identified the mechanism used to obtain unauthorised administrative access.

The theft affected multiple cryptocurrency networks, with approximately $3.8 billion on Ethereum and $1.5 billion in Bitcoin assets among the reported losses.

Stablecoin issuers Circle and Tether subsequently froze compromised assets, with approximately $3 billion blocked as authorities and blockchain investigators worked to trace the stolen funds.

The incident surpassed the $1.5 billion Bybit theft of 2025, making it the largest reported cryptocurrency exchange heist.

For Strategy, the contrasting developments highlight the financial risks accompanying its accumulation strategy. Bitcoin price volatility can change the market value of its holdings, while common-share issuance and preferred-stock obligations affect shareholder exposure and available liquidity.

The company’s continued purchases also distinguish its treasury approach from the immediate security concerns facing cryptocurrency exchanges, although its digital assets remain exposed to market losses and do not carry conventional deposit insurance protections.