#strategy未购比特币斥资2.05亿美元回购strc Strategy didn’t buy Bitcoin this week. Instead, it spent $205 million buying back its own preferred stock. What’s going on?
Everyone was waiting to see how much more Saylor would buy, but this week, his shopping cart was full of Strategy’s own STRC preferred stock.
1 From October 19 to 25, Strategy neither bought nor sold Bitcoin. It spent about $205 million buying back STRC. Its 848,517 BTC remained untouched.
Seeing “stopped buying Bitcoin,” some people might think: Even he’s afraid to buy now?
That’s a bit too quick a conclusion. One week without adding to its holdings isn’t enough to tell us what he thinks about the market ahead.
First, to be clear, STRC is preferred stock, and the company has to account for its dividend payments. Buying some of it back means less in dividend payments going forward. Of course, the trade-off is immediate: it has to spend the money now.
Put simply, Strategy has its own concerns: should it keep buying Bitcoin with its cash, or spend some now so the company has lower expenses later? 👍
When we look at the company, it’s easy to focus only on how much more BTC it bought. But its books also include dividends, interest, and all kinds of funding arrangements. Saying “we’re in it for the long term” doesn’t solve everything.
What’s actually more worth paying attention to this time is that it’s starting to prioritize using cash to tidy up its own balance sheet. Buying Bitcoin is important, but keeping this whole financing-and-Bitcoin-holding strategy running is just as important.
Damn, don’t hear “buyback” and immediately imagine it means “we’re about to take off.” That’s an impulsive way to think about it. Haha...
Spending this money means less cash in the short term to buy Bitcoin or do other things. Whether it’s worth it depends on what happens next.
Just watch three things: whether financing gets easier after the buyback, whether the company has enough cash, and where the money for its next Bitcoin purchase will come from.
Whether Bitcoin goes up is up to the market. Whether Strategy can keep buying depends on its own wallet. That’s all 😎
#BTC #Strategy #STRC