Strategy Last week, the money it got from selling stocks was only partly used—most of it went to buy Bitcoin.
The 8-K filed on 9/28 is very clear: from 9/21 to 9/27, it sold about 1.469 million shares of MSTR, netting $246.2 million.
Of that, $142.7 million was used to buy 1,665 $BTC at an average price of $85,681.
The remaining $151.7 million was used to repurchase about 1.53 million shares of its own STRC preferred stock. Of this amount, $103.5 million came from selling shares, and $48.1 million came from cash.
After the purchases, total holdings were 847,666 shares, with a total cost of $6.395 billion and an average cost of $75,437. At today’s price of around $83k, it’s still showing an unrealized gain on paper.
The company also has $5.02 billion in USD reserves on its balance sheet, specifically earmarked to pay preferred share dividends; this week, it paid $22.1 million.
Issuing common shares while also repurchasing preferred shares suggests it is actively adjusting its financing structure—not just buying crypto.
Will the repurchase of preferred shares become a new regular move for Strategy?
The 8-K filed on 9/28 is very clear: from 9/21 to 9/27, it sold about 1.469 million shares of MSTR, netting $246.2 million.
Of that, $142.7 million was used to buy 1,665 $BTC at an average price of $85,681.
The remaining $151.7 million was used to repurchase about 1.53 million shares of its own STRC preferred stock. Of this amount, $103.5 million came from selling shares, and $48.1 million came from cash.
After the purchases, total holdings were 847,666 shares, with a total cost of $6.395 billion and an average cost of $75,437. At today’s price of around $83k, it’s still showing an unrealized gain on paper.
The company also has $5.02 billion in USD reserves on its balance sheet, specifically earmarked to pay preferred share dividends; this week, it paid $22.1 million.
Issuing common shares while also repurchasing preferred shares suggests it is actively adjusting its financing structure—not just buying crypto.
Will the repurchase of preferred shares become a new regular move for Strategy?