Strategy skips Bitcoin purchases, spends $205M on STRC buybacks
Written by Helen Partzstaff writerEdited by Robert Lakinstaff editorStrategy made no Bitcoin purchases or sales last week, as its STRC preferred stock buybacks reduced its USD Cash balance by 46% to $242.4 million.
Michael Saylor’s Strategy refrained from buying or selling Bitcoin last week, choosing instead to spend $204.9 million on STRC preferred stock buybacks.
Strategy repurchased 2.07 million shares between Monday and Friday, reporting no Bitcoin (BTC) transactions or stock sales through its at-the-market offering program, according to its Monday filing with the US Securities and Exchange Commission.
The company said its Bitcoin holdings remained at 848,517 BTC, acquired for $64.02 billion at an average price of $75,446 per coin. At Monday’s US equities open, the biggest cryptocurrency was trading hands at roughly $79,992 apiece.
Strategy’s US dollar reserve remained unchanged from the previous week, at $4.83 billion, Its USD Cash balance fell around 46% to $242.4 million from $447.3 million after management used $204.9 million to repurchase STRC shares.
Since October began, Strategy has spent about $664 million repurchasing STRC preferred shares, compared with $72.3 million buying 851 BTC.
The pause came as Bitcoin fell toward $80,000 last week after reaching $84,777 on Wednesday, according to CoinGecko.
Strategy’s common stock (MSTR) fell 2.2% to $142.80 in Monday’s premarket activity, while its STRC preferred shares edged down 0.01% to $99.35, according to Yahoo Finance.
Related: Bitcoin rally could revive treasury buying, but easy-money days over
