Strategy spends triple its weekly Bitcoin outlay on STRC buybacks
Summary
Strategy spent $208.2 million repurchasing STRC preferred shares last week, versus $65.5 million to buy 811 Bitcoin at an average price of $80,846, according to an SEC filing. It sold about $164 million in MSTR shares, allocating the remainder after the Bitcoin purchase to cash reserves. Strategy also repurchased about $664 million in STRC from Oct. 1 to Oct. 25, while buying about $72 million in Bitcoin. STRC traded below its $100 target, limiting Strategy’s ability to issue new shares under its policy. Separately, Japan’s Metaplanet spent about $160 million buying back 7.1% of its issued shares.
