Two Bitcoin treasury playbooks just split in the same week, and the contrast is worth watching.
Strategy's latest 8-K shows zero BTC bought or sold from Oct 19–25, ending a five-week buying streak. Instead, it spent $204.9M of cash repurchasing about 2.07M shares of its STRC preferred stock. Holdings stay at 848,517 BTC with an average cost near $75,446, and USD Cash dropped to $242.4M (the separate $4.83B USD Reserve is earmarked for dividends and interest).
Strive went the other way: 6,182 BTC for roughly $511M between Oct 17–23, at an average of about $82,732, lifting its stack to 43,000 BTC. Much of that was funded by its new SATS preferred.
My take: Strategy pausing isn't a bearish signal on its own. Retiring a 12%-coupon preferred cuts future dividend obligations, which matters more when MSCI index pressure could make new equity raises harder. But it does mean the market's biggest steady bid took a week off.
With $BTC around $80.8K, Strive's latest batch sits slightly under water, while Strategy's average cost is still well below spot. Key levels for me: $79K–80K support, and whether buyers can reclaim $82K after the Fed decision. Strategy's earnings call, reported for Oct 29, should explain the pause.
#Bitcoin #BTC #MicroStrategy #幣安神算子
Not financial advice.
Strategy's latest 8-K shows zero BTC bought or sold from Oct 19–25, ending a five-week buying streak. Instead, it spent $204.9M of cash repurchasing about 2.07M shares of its STRC preferred stock. Holdings stay at 848,517 BTC with an average cost near $75,446, and USD Cash dropped to $242.4M (the separate $4.83B USD Reserve is earmarked for dividends and interest).
Strive went the other way: 6,182 BTC for roughly $511M between Oct 17–23, at an average of about $82,732, lifting its stack to 43,000 BTC. Much of that was funded by its new SATS preferred.
My take: Strategy pausing isn't a bearish signal on its own. Retiring a 12%-coupon preferred cuts future dividend obligations, which matters more when MSCI index pressure could make new equity raises harder. But it does mean the market's biggest steady bid took a week off.
With $BTC around $80.8K, Strive's latest batch sits slightly under water, while Strategy's average cost is still well below spot. Key levels for me: $79K–80K support, and whether buyers can reclaim $82K after the Fed decision. Strategy's earnings call, reported for Oct 29, should explain the pause.
#Bitcoin #BTC #MicroStrategy #幣安神算子
Not financial advice.
