� Saylor bought more Bitcoin… but Strategy spent 6 times as much buying back its preferred shares!
Buying 334 BTC will certainly draw attention, but the $176.3 million STRC share buyback deserves a closer look. 👇
In its latest update, Strategy revealed:
🔹 $28.7 million spent to buy 334 BTC.
🔹 $176.3 million spent to buy back STRC preferred shares.
🔹 Total company holdings: 848,000 BTC.
📌 My take: Strategy also seems to be watching the cost of maintaining its massive Bitcoin position.
Buying back preferred shares reduces the number of outstanding shares entitled to distributions, which matters when the company’s strategy relies on raising capital and meeting recurring payments.
Then there are estimated gains of around $21 billion on digital assets during the third quarter, largely reflecting Bitcoin’s price increase over that period.
⚠️ But these $21 billion shouldn’t be treated as new cash; an increase in the paper value of assets doesn’t necessarily mean there’s enough liquidity to meet actual obligations.
💡 To me, the key lesson is to watch both sides:
How much Bitcoin the company holds, and what it costs to keep increasing that amount.
An institutional purchase announcement alone isn’t enough reason to chase a price candle. 📊
🔥 The Mask
#Bitcoin #Strategy #MSTR
$BTC — $84,212.1 🔻1.35%
$MSTR — $161.25 🔻1.62%
Buying 334 BTC will certainly draw attention, but the $176.3 million STRC share buyback deserves a closer look. 👇
In its latest update, Strategy revealed:
🔹 $28.7 million spent to buy 334 BTC.
🔹 $176.3 million spent to buy back STRC preferred shares.
🔹 Total company holdings: 848,000 BTC.
📌 My take: Strategy also seems to be watching the cost of maintaining its massive Bitcoin position.
Buying back preferred shares reduces the number of outstanding shares entitled to distributions, which matters when the company’s strategy relies on raising capital and meeting recurring payments.
Then there are estimated gains of around $21 billion on digital assets during the third quarter, largely reflecting Bitcoin’s price increase over that period.
⚠️ But these $21 billion shouldn’t be treated as new cash; an increase in the paper value of assets doesn’t necessarily mean there’s enough liquidity to meet actual obligations.
💡 To me, the key lesson is to watch both sides:
How much Bitcoin the company holds, and what it costs to keep increasing that amount.
An institutional purchase announcement alone isn’t enough reason to chase a price candle. 📊
🔥 The Mask
#Bitcoin #Strategy #MSTR
$BTC — $84,212.1 🔻1.35%
$MSTR — $161.25 🔻1.62%
