Home Strategy Skips Bitcoin Buys & Spends $205M Repurchasing STRC Preferred Shares

Strategy Skips Bitcoin Buys & Spends $205M Repurchasing STRC Preferred Shares

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Strategy Skips Bitcoin Buys & Spends $205M Repurchasing STRC Preferred Shares
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  • Strategy bought and sold no Bitcoin in the week ending Friday, marking a break from its regular accumulation pace.
  • It spent $204.9 million repurchasing 2.07 million STRC preferred shares between Monday and Friday.
  • Total Bitcoin holdings remain at 848,517 BTC, acquired for $64.02 billion at an average of $75,446 per coin.
  • Since October began, Strategy has spent about $664 million on STRC buybacks versus just $72.3 million on 851 BTC.

Strategy, the software intelligence firm led by executive chairman Michael Saylor, did not purchase or sell any Bitcoin in the week ending Friday, according to its Monday Securities and Exchange Commission filing.

The pause in accumulation is unusual for a company that has made weekly Bitcoin purchases a near-consistent practice since adopting its Bitcoin treasury strategy in 2020.

STRC Preferred Share Buybacks Take Centre Stage

Instead of buying Bitcoin, Strategy spent $204.9 million repurchasing 2.07 million shares of its STRC perpetual preferred stock between Monday and Friday.

The buyback drew down Strategy’s cash, which fell approximately 46% from $447.3 million to $242.4 million over the week. Since October began, Strategy has spent roughly $664 million on STRC preferred stock repurchases, compared to just $72.3 million to acquire 851 BTC.

Bitcoin Holdings & Average Cost

Strategy’s total Bitcoin holdings stand at 848,517 BTC, acquired for a combined $64.02 billion at an average purchase price of $75,446 per coin.

The company’s BTC stack remains the world’s largest corporate Bitcoin treasury by a wide margin. Strategy said its U.S. dollar reserve stood at $4.83 billion, a figure the filing did not reconcile with the lower cash balance, suggesting the reserve figure includes different instruments or accounts.

Bitcoin & Stock Performance

Bitcoin traded near $79,600 today, retreating from a weekly high of $84,777 on Wednesday (21st Oct), according to CoinGecko. Strategy’s Class A common stock (MSTR) fell 2.2% to $142.80 in premarket trading.

STRC edged down 0.01% to $99.35, per Yahoo Finance data. The preferred stock buyback signals management confidence that STRC is trading at an attractive repurchase level relative to par.

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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