Strategy’s STRC hit $100, but common stock still funded last week’s Bitcoin purchases
Summary
Strategy raised $283.8 million by selling MSTR shares during November 2–8. It allocated $188.3 million (66.3%) to repurchase STRC preferred shares, $81.9 million (28.9%) to buy 1,036 Bitcoin at an average $79,012 each, and $13.6 million to cash. Although STRC reached $100 intraday on November 4, Strategy reported no STRC sales through its at-the-market program during the week. The company’s policy said it would not issue STRC below $100, while noting that its policies could change. The allocation differs from the preceding week, when Strategy used cash reserves for STRC buybacks. At November 8, it held $146.2 million in cash and a separate $4.77 billion reserve for dividends and interest.
