Strategy Buys $82M in Bitcoin, Buys Back $188M of STRC

Strategy Buys $82M in Bitcoin, acquiring 1,036 BTC for $81.9 million between November 2 and November 8. This marks its second consecutive weekly purchase, as disclosed in a recent SEC filing.

Concurrently, the company repurchased $188.3 million of its STRC preferred stock. Both transactions were financed through the sale of 2,051,348 shares of MSTR stock.

Following these actions, Strategy's total Bitcoin holdings now amount to 850,364 BTC. These assets were acquired for an aggregate of $64.16 billion, at an average cost of approximately $75,456 per coin. The recent Bitcoin purchase averaged $79,012 per coin.

This acquisition volume exceeds the previous week's, when Strategy purchased 811 BTC for $65.5 million after a brief pause in buying activity.

The repurchase of 1,887,464 shares of STRC, its variable-rate preferred stock, totaled $188.3 million, a reduction from the $208.2 million spent in the prior week. The sale of MSTR stock generated $283.8 million in net proceeds, with $13.6 million of the remaining funds allocated to its USD Cash account. This contrasts with the previous week, when the STRC buyback was funded from USD Cash, reducing its balance.

With the new proceeds, the USD Cash balance increased to $146.2 million as of November 8. Strategy's separate USD Reserve, designated for preferred stock dividends and debt interest, stood at $4.77 billion after a $21.1 million payout in preferred dividends during the week.

The company retains approximately $560.3 million under its preferred stock repurchase program and $1 billion under its MSTR stock buyback program. This financial update precedes an anticipated announcement from index provider MSCI regarding new rules for companies predominantly holding a single asset, which could impact Strategy's inclusion in its equity indexes. Shareholders also approved daily dividends for its four preferred stocks, with STRC initiating this schedule on November 1.