Strategy spent nearly nine times as much on STRC buybacks as Bitcoin last week
Summary
Strategy acquired 250 BTC for $21.5 million from Oct. 5–11, bringing its holdings to 848,250 BTC, while spending $192.4 million to repurchase 1.93 million STRC preferred shares. The buybacks continued to accelerate even as Bitcoin purchases slowed, and the shares were repurchased near their $100 stated value. Strategy said the buybacks would reduce future dividend obligations, but they also draw on unrestricted cash: USD Cash fell by $192.9 million, while total dollar liquidity stood at about $5.52 billion. The company had $354.8 million of remaining repurchase authorization. Shareholders are set to vote on a proposal to shift preferred dividends to daily payments on Oct. 28, followed by third-quarter results on Oct. 29.
