#strategy增持267枚比特币
【Strategy spent just $22 million buying Bitcoin, but shelled out $193 million to buy back preferred stock】
Saylor is still accumulating $BTC , but this week the money was clearly flowing more toward the other side. Strategy added 267 Bitcoin, spending about $22.1 million; meanwhile, it spent $193.1 million buying back $STRC preferred shares—nearly nine times as much as it spent buying Bitcoin. The company also raised the authorization for related buybacks from $2 billion to $3 billion.
Meanwhile, Strive bought 4,045 BTC in one week, bringing its holdings to 36,818—roughly 15 times Strategy’s purchases. But that buying was backed by financing and warrant exercises, so it shouldn’t be taken as a company aggressively buying with its own cash.
This contrast is interesting: corporate treasuries are still buying Bitcoin, but Strategy also has to look after the trading price of its preferred stock and its capital structure. Buybacks can support the securities’ performance, but they don’t amount to an equivalent level of buying pressure for BTC.
I wouldn’t focus only on who buys the most. I’m more interested in who can keep raising funds without putting too much strain on its finances. If Strategy later resumes buying Bitcoin on a larger scale while keeping financing costs and pressure from preferred stock manageable, that would be a stronger sign that its treasury model still has room to run.
【Strategy spent just $22 million buying Bitcoin, but shelled out $193 million to buy back preferred stock】
Saylor is still accumulating $BTC , but this week the money was clearly flowing more toward the other side. Strategy added 267 Bitcoin, spending about $22.1 million; meanwhile, it spent $193.1 million buying back $STRC preferred shares—nearly nine times as much as it spent buying Bitcoin. The company also raised the authorization for related buybacks from $2 billion to $3 billion.
Meanwhile, Strive bought 4,045 BTC in one week, bringing its holdings to 36,818—roughly 15 times Strategy’s purchases. But that buying was backed by financing and warrant exercises, so it shouldn’t be taken as a company aggressively buying with its own cash.
This contrast is interesting: corporate treasuries are still buying Bitcoin, but Strategy also has to look after the trading price of its preferred stock and its capital structure. Buybacks can support the securities’ performance, but they don’t amount to an equivalent level of buying pressure for BTC.
I wouldn’t focus only on who buys the most. I’m more interested in who can keep raising funds without putting too much strain on its finances. If Strategy later resumes buying Bitcoin on a larger scale while keeping financing costs and pressure from preferred stock manageable, that would be a stronger sign that its treasury model still has room to run.