Strategy’s discretionary cash falls 72% as buyback authorization rises to $3 billion
Strategy bought $22.1 million of Bitcoin, raising its holdings to 848,517 BTC, while spending $193.1 million repurchasing STRC preferred shares. Its discretionary USD Cash fell to $447.3 million, and its board increased the repurchase authorization to $3 billion, with about $1.16 billion remaining. Recent buybacks averaged $99.60 per share, close to the $100 stated value, yet have not sustained STRC at par. The company may need new funding to maintain the pace. Separately, MSCI rules could exclude Bitcoin treasury companies from major indexes, potentially prompting an estimated $2.8 billion in passive-fund selling. Strategy shares fell 11.35% during the week. The company reports third-quarter results Oct. 29; MSCI’s final list is due Nov. 11.
