Strategy This week’s money went in two directions.
On September 28, the company disclosed that from September 21 to 27 it bought 1,665 BTC. Out of the net proceeds of $246.2 million from the sale of common stock, $142.7 million was used to buy crypto, and $103.5 million was used to repurchase STRC preferred stock.
I’m more interested in how the funds were allocated, not just the total number of coins held: the financing amount does not equal all inflows into Bitcoin, and the preferred-stock repurchase is not the same as repurchasing BTC. When reading similar announcements, you need to distinguish the sources of funds, the amount used to buy crypto, and other purposes—only then can you know what the company actually did.
In news like this, would you rather see changes in coin holdings, or where the money went?
$BTC #Strategy Funds allocation
On September 28, the company disclosed that from September 21 to 27 it bought 1,665 BTC. Out of the net proceeds of $246.2 million from the sale of common stock, $142.7 million was used to buy crypto, and $103.5 million was used to repurchase STRC preferred stock.
I’m more interested in how the funds were allocated, not just the total number of coins held: the financing amount does not equal all inflows into Bitcoin, and the preferred-stock repurchase is not the same as repurchasing BTC. When reading similar announcements, you need to distinguish the sources of funds, the amount used to buy crypto, and other purposes—only then can you know what the company actually did.
In news like this, would you rather see changes in coin holdings, or where the money went?
$BTC #Strategy Funds allocation
