Strategy Continues BTC Buying With $22M Purchase

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Strategy added 267 Bitcoin to its holdings as it bought back 1.94 million STRC shares and boosted its preferred stock buyback program to $3 billion.

Michael Saylor’s Strategy, the world’s largest publicly traded corporate Bitcoin holder, continued buying Bitcoin last week while spending nearly nine times as much repurchasing its preferred stock.

Strategy bought 267 Bitcoin for $22.1 million at an average price of $82,900 between Oct. 12 and Oct. 18, bringing its holdings to 848,517 BTC, according to a Monday filing with the US Securities and Exchange Commission (SEC).

The company also repurchased 1.94 million shares of its Stretch (STRC) preferred stock for $193.1 million and increased its digital credit securities buyback authorization to $3 billion from $2 billion.

The latest transactions extend a trend of management spending more on preferred stock repurchases than Bitcoin purchases, even as Saylor expects a return to a Bitcoin bull market.

Strategy’s STRC buybacks continue to outpace Bitcoin purchases
Strategy funded its latest Bitcoin purchase primarily through $22 million in proceeds from selling 140,872 shares of its common stock, MSTR, while using existing cash for the STRC repurchases.

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