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Michael Saylor Hints at More Bitcoin Buys as Strategy Holds 848,250 BTC
The company funded the bitcoin purchase with common-stock sales while spending nearly nine times more on preferred-share buybacks.
- On Oct 19, Strategy announced it acquired 267 Bitcoin and increased its preferred stock buyback program to $3 billion from $2 billion.
- Executive Chairman Michael Saylor hinted at further accumulation on Oct 18, posting a chart after Strategy previously disclosed holdings of 848,250 BTC acquired for approximately $64 billion.
- Strategy spent $22.1 million acquiring the 267 Bitcoin at an average price of $82,900 per coin, while simultaneously repurchasing 1.94 million shares of its Stretch preferred stock for $193.1 million.
- The board-approved increase brings total authorization to $3 billion, leaving $1.16 billion available as of Oct 18 for future preferred stock repurchases under the digital credit securities program.
- Strategy continues expanding its Bitcoin treasury while managing dividend obligations across multiple preferred stock classes as its cryptocurrency holdings represent approximately 4.04% of Bitcoin's maximum supply.
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CointelegraphReposted by 
The New York Ledger
The New York LedgerStrategy Buys $22M in Bitcoin, Repurchases $193M in STRC
Strategy’s Bitcoin holdings reached 848,517 BTC after its latest purchase, while the company reported a $4.83 billion reserve and $447.3 million in separate cash.
·New York, United States
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Strategy Purchases $22.1M Bitcoin And Buys Back $193.1M STRC Shares
Strategy, a digital asset treasury (DAT) and business intelligence software company, has made another multi-million Bitcoin (BTC) purchase and repurchased Variable Rate Series A Perpetual Stretch (STRC) Preferred Stock over the past week. Meanwhile, a prominent gold investor continues to question why it keeps buying back its preferred shares if it’s indeed a great product. […]
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Leaning Left0Leaning Right1Center4Last UpdatedBias Distribution80% Center
Bias Distribution
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80% Center
C 80%
R 20%
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