The world's biggest Bitcoin buyer spent 6x more on its own stock than on Bitcoin this week.
Strategy bought just 334 BTC for $28.7M, taking its stash to exactly 848,000 coins. But in the same week it dropped $176.3M buying back its STRC preferred shares.
My take: this tells you what Strategy really is now. The Q3 numbers back it up — $1.38B went to stock buybacks while net Bitcoin added was only $143M. Holdings grew just 0.2% in the quarter, down from 11% in Q2.
Bitcoin is now the side project. The real machine is the financial engineering around it — and on Oct 28, shareholders vote on moving all its preferred stocks to daily dividend payouts.
Does Strategy still move your $BTC conviction, or is it becoming just another Wall Street machine? 👀
$BTC
#Bitcoin #Strategy #CryptoNews
DYOR
Strategy bought just 334 BTC for $28.7M, taking its stash to exactly 848,000 coins. But in the same week it dropped $176.3M buying back its STRC preferred shares.
My take: this tells you what Strategy really is now. The Q3 numbers back it up — $1.38B went to stock buybacks while net Bitcoin added was only $143M. Holdings grew just 0.2% in the quarter, down from 11% in Q2.
Bitcoin is now the side project. The real machine is the financial engineering around it — and on Oct 28, shareholders vote on moving all its preferred stocks to daily dividend payouts.
Does Strategy still move your $BTC conviction, or is it becoming just another Wall Street machine? 👀
$BTC
#Bitcoin #Strategy #CryptoNews
DYOR