✓ Verified by 4+ outlets BTC
Strategy skips bitcoin for a week and spends $205 million buying back its STRC preferred shares instead
Summary
Strategy, the largest corporate bitcoin holder, bought no bitcoin between Oct. 19 and 25 and instead spent $204.9 million repurchasing its STRC preferred stock, according to an SEC filing reported by The Block, Decrypt, Cointelegraph and Bitcoin Magazine on Monday, Oct. 26.
Decrypt said it was the company's first pause in weekly bitcoin buying since mid-September, and that Strategy also sold no shares through its at-the-market program that week.
The buyback was paid from Strategy's USD Cash balance, which fell about 46% to $242.4 million from $447.3 million, while its separate $4.83 billion USD Reserve for dividends and interest was unchanged, the outlets reported.
Strategy still holds 848,517 BTC bought at an average of $75,446 per coin, and Bitcoin Magazine said the company has given no timetable for resuming purchases.
Key facts
- Strategy spent $204.9 million buying back 2,068,459 STRC preferred shares, up from $193.1 million the week before.
- Strategy holds 848,517 BTC acquired for $64.02 billion at an average price of $75,446 per bitcoin.
- Since October began, Strategy has spent about $664 million repurchasing STRC shares, compared with $72.3 million buying 851 BTC.
- After the buyback, $956.8 million remains under Strategy's $3 billion preferred stock repurchase program, which it raised from $2 billion a week earlier.
- Strategy's bitcoin holdings show a paper gain of about $3.9 billion with bitcoin near $80,000.
- The pause comes as MSCI prepares to publish, on Nov. 11, a list of 'non-operating companies' that would become ineligible for its main indexes from Nov. 30.
Related stories
- Bitcoin drops below $72,000 as spot ETFs bleed $1.44 billion in five days and BlackRock's IBIT loses $2 billion in nine
- Bitcoin treasury firm Nakamoto owes Kraken $165 million, more than its market value, as Q3 operating revenue turns negative
- Binance sets aside $6.34 billion to cover record hack as TRM and Chainalysis tie it to North Korea's TraderTraitor