Strategy Buys 1,036 Bitcoin as Holdings Reach 850,364 BTC
Strategy purchased $81.9 million in Bitcoin last week while spending $188.3 million to repurchase STRC preferred shares, according to its latest SEC filing.
Strategy acquired 1,036 Bitcoin for $81.9 million last week, bringing its total cryptocurrency holdings to 850,364 BTC, according to a Monday filing with the US Securities and Exchange Commission.
The company paid an average of $79,012 per coin during the acquisition period. Strategy reported that it has paid a total of $64.16 billion for its Bitcoin holdings, resulting in an overall average price of $75,456 per coin. Its accumulated reserves now account for approximately 4.05% of Bitcoin’s maximum 21 million supply.
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Preferred Shares and Capital Allocation
Alongside its cryptocurrency acquisitions, Strategy allocated significant capital toward repurchasing its STRC preferred shares. Since the beginning of October, the company has spent about $1.06 billion buying back STRC shares, which is nearly five times the $219.7 million it spent on Bitcoin over the same timeframe.
Last week, Strategy raised $283.8 million in net proceeds by selling about 2.05 million shares of its common stock (MSTR) through an at-the-market offering program. The company used $188.3 million of those proceeds to repurchase roughly 1.89 million STRC shares, following $208.2 million in buybacks conducted the previous week.
Cash Reserves and Dividends
Strategy’s separate US dollar reserve decreased to $4.77 billion from $4.79 billion after the company drew $21.1 million to pay dividends on its preferred stock. Meanwhile, its direct USD cash balance rose approximately 10% to $146.2 million from $132.7 million.
In trading following the filing, Strategy’s common stock fell 3% to $125 in premarket trading, while its STRC preferred shares edged down 0.06% to $99.7, according to Yahoo Finance data cited in the report.
Key facts
- Strategy bought 1,036 Bitcoin for $81.9 million, paying an average of $79,012 per BTC.
- Total Bitcoin holdings reached 850,364 BTC, valued at a cumulative cost of $64.16 billion.
- The company spent $188.3 million repurchasing STRC preferred shares last week.
- Strategy raised $283.8 million in net proceeds through an at-the-market common stock offering.
Source: cointelegraph.com
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