Strategy Increases Bitcoin Holdings and Buys Back Preferred Stock
- Strategy purchased 250 BTC for $21.5 million, averaging $86,194 per coin.
- The firm’s total Bitcoin holdings reached a record of 848,250 BTC, acquired at an average price of $75,444 per coin.
- Strategy repurchased approximately 1.93 million shares of its STRC preferred stock for $192.4 million.
- The company funded the Bitcoin purchase primarily by selling $21 million worth of MSTR common stock.
- As of October, Strategy holds $4.88 billion in U.S. dollar reserves and $640.5 million in cash for various purposes including buying Bitcoin.
Strategy’s recent acquisition increases its already substantial Bitcoin holdings while also focusing on financial maneuvers like share buybacks to manage its capital structure effectively.
This strategic move highlights the company’s commitment to increasing its cryptocurrency assets while maintaining liquidity through strategic stock sales and buybacks to optimize financial performance.(Source)
