Michael Saylor-led Strategy dedicated over triple the capital to buying back its STRC preferred shares compared to purchasing Bitcoin throughout the previous week.
Based on an 8-K regulatory submission filed Monday with the Securities and Exchange Commission, Strategy bought back $208.2 million worth of STRC and used approximately $65.5 million to acquire 811 Bitcoin (BTC) at a mean price of $80,846.
The documentation shows that Strategy disposed of roughly 1.18 million shares of MSTR to generate net proceeds of $164 million. The filing indicates that about $65.5 million went toward the Bitcoin purchase, whereas the remaining $98.5 million was added to the firm’s USD Cash reserves. As of Sunday, the enterprise maintained $132.7 million in USD Cash alongside $4.79 billion housed in its distinct US dollar reserve.
These recent acquisitions succeeded roughly $664 million in STRC repurchases executed between Oct. 1 and Oct. 25, which contrasted with approximately $72 million spent on Bitcoin purchases throughout that timeframe.
Data from Yahoo Finance indicates that Strategy’s STRC preferred equity gained 0.1% during Monday pre-market hours, reaching $99.22, which is roughly 0.8% under its $100 par value. Strategy maintains a guideline preventing the creation of new STRC shares under the $100 threshold, which restricts that capital channel while the security trades beneath its goal.
In a related development, Japanese corporate Bitcoin treasury firm Metaplanet disclosed common stock repurchases on Monday. The organization utilized roughly 25.27 billion yen ($160 million) to repurchase 96.45 million shares spanning from Oct. 14 through Saturday, accounting for approximately 7.1% of its total circulating stock.
Originally published at https://cointelegraph.com/news/strategy-repurchases-208m-strc-65m-bitcoin?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
