#Strategy Bought No Bitcoin, Spending $205 Million to Buy Back STRC
$BTC No Bitcoin purchases, but a big STRC buyback—the way Strategy spent its money this week is crystal clear.
According to the SEC 8-K filed on October 26, Strategy bought no Bitcoin during the week of October 19–25, keeping its holdings at 848,517 BTC (average price: $75,446; total cost: approximately $64 billion). In the same week, however, it spent $205 million to buy back 2.068 million shares of STRC preferred stock.
This marks the third consecutive week in October that “more money went to buying back STRC than to buying Bitcoin”: STRC buybacks totaled approximately $664 million for the entire month, while Bitcoin purchases came to just $72.3 million. Strategy still has $957 million in buyback authorization and $4.83 billion in cash reserves.
Put simply, this week Strategy wasn’t adding to its Bitcoin holdings—it was propping up its preferred stock. With a vote on STRC’s dividend mechanism scheduled for October 28 and potential changes to MSCI index rules on November 11, the preferred-stock story is worth watching more closely than Bitcoin purchases in the near term.
Do you think Strategy is trying to shore up support for STRC, or saving its powder for the next round of Bitcoin purchases?
$BTC No Bitcoin purchases, but a big STRC buyback—the way Strategy spent its money this week is crystal clear.
According to the SEC 8-K filed on October 26, Strategy bought no Bitcoin during the week of October 19–25, keeping its holdings at 848,517 BTC (average price: $75,446; total cost: approximately $64 billion). In the same week, however, it spent $205 million to buy back 2.068 million shares of STRC preferred stock.
This marks the third consecutive week in October that “more money went to buying back STRC than to buying Bitcoin”: STRC buybacks totaled approximately $664 million for the entire month, while Bitcoin purchases came to just $72.3 million. Strategy still has $957 million in buyback authorization and $4.83 billion in cash reserves.
Put simply, this week Strategy wasn’t adding to its Bitcoin holdings—it was propping up its preferred stock. With a vote on STRC’s dividend mechanism scheduled for October 28 and potential changes to MSCI index rules on November 11, the preferred-stock story is worth watching more closely than Bitcoin purchases in the near term.
Do you think Strategy is trying to shore up support for STRC, or saving its powder for the next round of Bitcoin purchases?
