News · Cointelegraph

Strategy spends triple its weekly Bitcoin outlay on STRC buybacks

Strategy spent $208.2 million repurchasing STRC preferred shares and about $65.5 million buying 811 Bitcoin at an average price of $80,846, according to a Monday 8-K filing. The company sold about 1.18 million MSTR shares for net proceeds of $164 million, with $98.5 million allocated to its USD Cash balance. As of Sunday, it held $132.7 million in USD Cash and $4.79 billion in a separate US dollar reserve. Between Oct. 1 and Oct. 25, STRC buybacks totaled about $664 million versus about $72 million in Bitcoin acquisitions.

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