$BTC got the buy order from Strategy, but the company spent more on preferred stock buybacks.
Today, the company officially announced that it had purchased an additional 250 bitcoins. The total cost was $21.5 million, of which $21 million came from common stock sales and $500,000 from cash.
The same announcement also disclosed about $192 million in STRC preferred stock buybacks. Based on these two figures, the buyback was nearly nine times the amount spent on Bitcoin purchases.
When you see “buying more Bitcoin,” it’s easy to assume all the company’s spending is aimed at expanding its BTC buying. This disclosure shows another side: the company is also buying back preferred stock, so that spending shouldn’t be counted as additional demand for Bitcoin.
What matters more to me is the actual amount invested. The additional purchase is confirmed, but one company’s buying alone can’t guarantee that the market price will rise.
Tap $BTC to see today’s candlestick chart and trading volume: can this completed purchase provide sustained support for the market?
$BTC
Today, the company officially announced that it had purchased an additional 250 bitcoins. The total cost was $21.5 million, of which $21 million came from common stock sales and $500,000 from cash.
The same announcement also disclosed about $192 million in STRC preferred stock buybacks. Based on these two figures, the buyback was nearly nine times the amount spent on Bitcoin purchases.
When you see “buying more Bitcoin,” it’s easy to assume all the company’s spending is aimed at expanding its BTC buying. This disclosure shows another side: the company is also buying back preferred stock, so that spending shouldn’t be counted as additional demand for Bitcoin.
What matters more to me is the actual amount invested. The additional purchase is confirmed, but one company’s buying alone can’t guarantee that the market price will rise.
Tap $BTC to see today’s candlestick chart and trading volume: can this completed purchase provide sustained support for the market?
$BTC