WiremarketsDextape brief
Strategy Adds 811 BTC With MSTR Sales as STRC Buybacks Top $400 Million in Two Weeks
Michael Saylor's company has put $413.1 million into STRC repurchases since Oct. 19, more than six times what it spent on bitcoin over the same stretch, its last two weekly filings show.
Dextape brief
Strategy acquired 811 BTC worth $65.5 million during the seven days ending November 1, after buying none the week before, according to a Form 8-K filed Monday. Including fees, the average cost was $80,846 per coin, and holdings now total 849,327 BTC, acquired for $64.08 billion. All of the coins were paid for with MSTR share sales, which brought in $164.0 million after commissions, with $98.5 million moved into USD Cash. Over the same week, Strategy spent $208.2 million from USD Cash repurchasing 2,092,035 STRC preferred shares, leaving $748.6 million of buyback capacity. Unchained counted $413.1 million in STRC repurchases since October 19, more than six times the bitcoin spending over that period.
Why it matters: The filing shows a major bitcoin treasury holder splitting its capital between coin purchases and preferred stock buybacks, with buybacks far larger recently.
Read the full story
Mentioned in this story
Open a coin page for its current price.