Strategy buys 811 BTC and repurchases $208.2 million of STRC (2 November)
STRC hits $100 for the first time since May (4 November)
Strive buys 124 BTC and uses its SATS ATM for the first time (2 November)
Metaplanet repays ¥8 billion bond early and lifts its Bitcoin plan to ¥33.4 billion (2 November)
Riot and Hut 8 sell, while Block buys (3-4 November)
Bitcoin falls to a seven-week low (5 November)
Quick Update
Top 5 Bitcoin Treasury Companies
Top 5 Bitcoin Holding ETFs
Top 5 Government Bitcoin Holdings
Top 5 Ethereum Treasury Companies
Top 5 Digital Credit Instruments
Where Things Stand
As of 2 November, 199 public companies hold 1,266,419 BTC, up 980 BTC from the previous week.
Strategy bought 811 BTC for $65.5 million, taking it to 849,327 BTC, and repurchased $208.2 million of STRC, funded mainly by $164.0 million of MSTR share sales. USD Cash fell to $132.7 million.
STRC touched $100 on 4 November for the first time since May and closed at $99.98. Daily dividends began on 1 November.
Strive added 124 BTC, taking it to 43,124, and used its SATS ATM for the first time. Metaplanet repaid an ¥8 billion bond early and raised its Bitcoin purchase plan to ¥33.4 billion.
Riot's holdings dropped 79% to 2,418 BTC in Q3 and Hut 8 sold about 2,148 BTC in October, while Bitcoin closed at $75,969 on 5 November, down 5.54%, and US spot Bitcoin ETFs lost about $870 million from 2 to 5 November.
Part of a seriesAs of 2 November, BitcoinTreasuries.net data showed that 199 public companies held 1,266,419 BTC. This was an increase of 980 BTC from the 1,265,439 BTC reported on 31 October. Of the newly disclosed BTC, Strategy's total rose by 810 BTC and Strive reported buying 124 BTC. Other minor changes made up the remainder. Using Bitcoin's 5 November closing price of $75,969, the holdings are worth approximately $96.21 billion. On 5 November, after a sell-off in chip stocks, Bitcoin fell 5.5% and closed at its lowest level in seven weeks.
Among the week's biggest events, Strategy went back to buying Bitcoin, adding 811 BTC, and spent another $208.2 million repurchasing STRC. STRC then hit its $100 stated amount for the first time since May. Strive added 124 BTC and used its new SATS programme for the first time. Metaplanet repaid an ¥8 billion bond early and increased its Bitcoin purchase plan to ¥33.4 billion. On the other side, Riot reported that its Bitcoin holdings had dropped by 79%, and Hut 8 sold approximately 2,148 BTC in October to fund share buybacks. US spot Bitcoin ETFs saw net outflows of approximately $870 million from 2 to 5 November.
On 2 November, Strategy filed an 8-K reporting an 811 BTC purchase between 26 October and 1 November for approximately $65.5 million, averaging $80,846 per coin. It ended a one-week pause, after Strategy bought no Bitcoin the week before. Saylor previewed the buy with, "We found room for even more orange." Strategy now owns 849,327 BTC, purchased for $64.08 billion at an average of $75,451 per coin. Since the last report, holdings increased by 810 BTC, and the filing does not explain the one-coin gap.
The money came from common stock. Strategy sold 1,178,552 MSTR shares for $164.0 million net. It used $65.5 million to buy Bitcoin and put the remaining $98.5 million into USD Cash.
Strategy also repurchased 2,092,035 STRC shares for a total of $208.2 million, about $99.52 per share on our calculation. This reduced USD Cash to $132.7 million from $242.4 million. The USD Reserve decreased to $4.79 billion from $4.83 billion after $43.4 million was used for preferred dividends. $748.6 million remains in the $3.0 billion preferred repurchase programme, and the separate $1.0 billion MSTR buyback is still unused.
According to BitcoinTreasuries.net, Strategy has repurchased about 23.07 million STRC shares since July for a total of about $2.25 billion, an average of about $97.58 a share. At the 12% rate, those shares would have carried about $277 million a year in dividends.
STRC reached its $100 stated amount on 4 November for the first time since 14 May. It closed at $99.98 after trading between $99.90 and $100.00, with roughly 2.1 million shares changing hands. That is about 34% above its 26 June close of $74.57.
This is the level that matters. Strategy has said it plans to recommend keeping the 12% rate until STRC shows "demonstrated sustained, healthy trading near $100 per share." Strategy's buyback policy rules out selling STRC below $100, but it is not obligated to sell at $100. Strategy last sold STRC in mid-May, sold none in Q3, and still has $17.51 billion available under the programme. The next weekly filing will show whether any STRC was sold.
Daily dividends also began this week. Every calendar day has been a record date since 1 November. November's total is $1.00 a share, paid at about $0.03 to $0.04 a day, and the 12% annual rate is unchanged.
Strive purchased 124 BTC between 24 and 30 October for about $10 million, an average of roughly $80,526 per coin. This takes its total holdings to 43,124 BTC. It is much smaller than the 6,182 BTC Strive bought the week before at an average of $82,732 per coin. CEO Matt Cole said most of this week's purchase was paid for with cash on hand. Strive also sold SATS through its at-the-market (ATM) programme for the first time, but has not disclosed the amount.
Cash declined by $14 million to $490.4 million. Strive still holds 505,000 STRC shares, worth $50.1 million on 30 October, and its SATA shares stayed at just over 14 million.
Strive is now 390 BTC behind Twenty One Capital and 876 BTC behind Metaplanet, with a 7,547 BTC lead over MARA. It is still aiming to end the year as the second-largest public Bitcoin holder. The Block worked out that buying fewer than 100 BTC a week would let Strive overtake Metaplanet before year-end, as long as Metaplanet does not buy more BTC.
On 2 November, Metaplanet fully repaid its 20th series of zero-interest bonds, ¥8 billion issued to EVO FUND. The bonds were not due until 23 April 2027, so the repayment came almost six months early. It was paid from cash on hand.
That ¥8 billion now goes to Bitcoin. The amount budgeted for Bitcoin purchases from April 2026 to April 2028 increases from ¥25.422 billion to ¥33.422 billion, to be funded by the exercise of its 27th series of stock acquisition rights. None of the extra amount has been spent yet, and holdings remain at 44,000 BTC.
Riot Platforms' Q3 results show Bitcoin holdings down about 79%, from 11,380 BTC on 30 June to 2,418 BTC on 30 September. According to BitcoinTreasuries.net, Riot sold 10,599 BTC in Q3 and mined 1,637. Riot says it has sold 20,264 BTC so far this year, mostly to fund data centre construction, and that it "repaid in full and terminated" a $200 million Coinbase credit facility. It also signed a 15-year lease with a "leading Frontier AI Lab" for 910 MW at its Corsicana, Texas campus, worth about $28 billion over the initial term. Riot now ranks 33rd on the tracker.
Hut 8 sold about 954 BTC in Q3 for $74.8 million and about 2,148 BTC in October for $175.4 million, using the proceeds to buy back its own shares. Its $250 million buyback programme is now used up, and the board has raised the authorisation to $1.0 billion. CEO Asher Genoot said shareholders "now own a larger share of a growing platform following share repurchases funded with Bitcoin from our balance sheet." BitcoinTreasuries.net estimates Hut 8 now holds about 6,212 BTC and ranks 16th.
Block (XYZ) went the other way. In Q3 it bought 120 BTC for $8.31 million, bringing its total to 9,237 BTC, bought for $318.6 million in all. That moved it up one place to 13th.
Bitcoin closed at $75,969 on 5 November, down 5.54% for the day. In the afternoon it fell from $78,767 to $75,986 in about an hour as chip stocks sold off, with the SOX semiconductor index down more than 9% at one point. More than $560 million of positions were liquidated in that hour, about $530 million of them long bets, according to CoinGlass via CryptoPotato. The 24-hour high of $80,882 had been set the evening before.
From 2 to 5 November, CryptoDataAPI reports that US spot Bitcoin ETFs had net outflows of approximately $869.8 million, with about $806.5 million of that coming from IBIT. 4 November was the only inflow day, with a net $74.6 million, as $236.7 million went into FBTC. Other trackers report slightly different figures for some days.
In the week ending 1 November, BitMine bought 8,573 ETH, taking its holdings to 6,060,506 ETH, about 4.9% of the total supply. Tom Lee said, "Bitmine has bought ETH each and every week since the inception of the ETH Treasury Strategy on June 30, 2025."
The top five companies listed on BitcoinTreasuries.net (2 November), valued at $75,969 per BTC, are:
· Strategy (MSTR), with 849,327 BTC worth $64.52 billion, up 810 BTC this week (about 4.04% of the 21 million supply).
· Metaplanet (MPJPY), with 44,000 BTC worth $3.34 billion, unchanged from last week.
· Twenty One Capital (XXI), with 43,514 BTC worth $3.31 billion, unchanged from last week.
· Strive (ASST), with 43,124 BTC worth $3.28 billion, up 124 BTC.
· MARA Holdings (MARA), with 35,577 BTC worth $2.70 billion, unchanged from last week. MARA reports its Q3 results on 9 November.
· iShares Bitcoin Trust (IBIT), with 811,115 BTC worth $61.62 billion.
· Fidelity Wise Origin Bitcoin Fund (FBTC), with 184,058 BTC worth $13.98 billion.
· Grayscale Bitcoin Trust (GBTC), with 131,528 BTC worth $9.99 billion.
· Grayscale Bitcoin Mini Trust, with 62,874 BTC worth $4.78 billion.
· Bitwise Bitcoin ETF (BITB), with 38,189 BTC worth $2.90 billion.
The tracker's ETF total is still 1,615,524 BTC, now worth about $122.73 billion. It hasn't moved in three weeks, despite inflows two weeks ago and outflows this week. IBIT and FBTC match the 2 November snapshot. GBTC, Mini Trust and BITB are carried over from last week because the total is unchanged. Xapo (38,931 BTC) is left out because it is a custodian, not an ETF.
· United States, with 328,372 BTC worth $24.95 billion.
· China, with 190,000 BTC worth $14.43 billion.
· United Kingdom, with 61,245 BTC worth $4.65 billion.
· Ukraine (public officials' holdings), with 46,351 BTC worth $3.52 billion.
· El Salvador, with 7,813 BTC worth $594 million (last week's figure, not updated).
The tracker's government total is 645,615 BTC, up one from last week.
· BitMine Immersion Technologies (BMNR), with 6,060,506 ETH worth $13.70 billion, up 8,573 ETH.
· Sharplink (SBET), with 890,376 ETH worth $2.01 billion.
· The Ether Machine, with 495,362 ETH worth $1.12 billion.
· Bit Digital (BTBT), with 162,081 ETH worth $366 million.
· Coinbase Global (COIN), with 150,193 ETH worth $340 million.
Values use BitMine's 1 November reference price of $2,261. BitMine has 5,227,037 ETH staked, about 86% of its ETH. It also holds 216 BTC and $498 million in cash and marketable securities, with total holdings of about $14.5 billion. Holdings for the other four companies are last week's tracker figures.
· STRC (Strategy): about $9.1 billion market cap (our estimate after this week's buyback). Closed at $99.98 on 4 November, a 12.00% yield against a 12.00% rate.
· SATA (Strive): about $1.40 billion, 13.00% rate (23 October figure, not refreshed).
· STRF (Strategy): about $1.34 billion, 10.00% fixed rate (16 October figure, not refreshed).
· STRK (Strategy): about $1.02 billion, 8.00% fixed rate, convertible (23 October figure, not refreshed).
· STRD (Strategy): about $1.01 billion, 10.00% fixed rate (16 October figure, not refreshed).
STRC at $100 is the story. Its yield now equals its rate, so the question is whether Strategy starts selling STRC again instead of buying it back.
Strategy went back to buying Bitcoin, though the amount was small next to its STRC buyback, and both are now funded mainly by selling MSTR shares. USD Cash is down to $132.7 million, so the next big STRC buyback would need fresh MSTR sales, the USD Reserve, or STRC staying at $100 so buybacks are no longer needed. Strive slowed down after its October surge, and Metaplanet set aside more yen for Bitcoin without buying any yet. The miners went the other way, with Riot selling Bitcoin to fund data centres and Hut 8 selling to fund share buybacks. Bitcoin's fall to $75,969 on 5 November cut the value of all of it.
Keep an eye on four things. First, whether Strategy's 9 November filing shows any STRC sales now that it has hit $100. Next, the December STRC rate, due by 15 November. Third, MARA's Q3 results on 9 November, after it sold Bitcoin earlier this year. Finally, the first SATS dividend, due on 9 November, and whether Strive closes the 390 BTC gap to Twenty One.
Source: BitcoinTreasuries.net (2 November 2026 snapshot); Strategy and Strive 8-Ks; Metaplanet bond notice; Riot, Hut 8 and Block Q3 filings; BitMine update; CryptoDataAPI ETF flows.
India Crypto Research operates independently. The information presented herein is intended solely for educational and informational purposes and should not be construed as financial advice. Before making any financial decisions, it's essential to undertake your own thorough research and analysis. If you're uncertain about any financial matters, we strongly recommend seeking guidance from an impartial financial advisor.
