The Motivators

Public companies that hold bitcoin as a core treasury asset have become one of the most-watched forces in crypto. Their weekly purchase announcements can move headlines, and sometimes sentiment. This week's updates, released Monday, Oct. 19, 2026, show an interesting split: the largest holder, Strategy, bought only a small amount of bitcoin, while smaller rivals kept buying at a faster clip. Here is what bitcoin treasury companies are doing, how they raise the money, and the risks worth understanding before you read too much into their moves. Strategy Buys 267 Bitcoin and Expands a Buyback Michael Saylor's Strategy, formerly MicroStrategy, acquired 267 bitcoin last week, bringing its total holdings to 848,517 coins, according to CoinDesk. The more notable part of the announcement involved its preferred stock. Strategy bought back another $193 million of its high-yielding preferred shares, known as STRC, bringing total buybacks to nearly $2 billion, and increased the...