Strategy Spends $208 Million on Share Buybacks and $65 Million on Bitcoin

Strategy spends more on share buybacks than Bitcoin

Strategy, the firm led by Michael Saylor, spent $208.2 million to buy back its own STRC preferred shares last week. This amount is more than triple the $65.5 million the company spent acquiring Bitcoin during the same period.

The company purchased 811 Bitcoin at an average price of $80,846 per coin. Bitcoin is a digital currency that operates on a decentralized network called a blockchain, which is a public ledger of all transactions.

Key details of the transaction

• Strategy spent $208.2 million on STRC preferred stock repurchases.
• The company bought 811 Bitcoin for approximately $65.5 million.
• About 1.18 million MSTR shares were sold to raise $164 million in net proceeds.
• Strategy added $98.5 million to its US dollar cash balance.

Information from official filings

According to an 8-K filing with the Securities and Exchange Commission (SEC), Strategy used proceeds from selling its own stock to fund the Bitcoin purchase and increase its cash holdings. As of Sunday, the company held $132.7 million in US dollar cash and another $4.79 billion in a separate US dollar reserve.

Recent spending trends

The latest data shows a continuation of the company's recent spending patterns. Between October 1 and October 25, Strategy spent roughly $664 million on STRC buybacks. During that same time, it spent about $72 million on Bitcoin acquisitions.

Buybacks at other Bitcoin treasury firms

Metaplanet, a Bitcoin treasury company based in Japan, also reported share buybacks on Monday. The company spent approximately $160 million (25.27 billion yen) to repurchase 96.45 million shares between October 14 and last Saturday. This buyback represents about 7.1% of Metaplanet's total issued shares.

What is confirmed

It is confirmed through SEC filings that Strategy purchased 811 Bitcoin and spent over $208 million on preferred shares last week. The filing also confirms the company's average Bitcoin purchase price of $80,846 and its current US dollar cash levels.

Why this strategy matters

Strategy maintains a policy of not issuing new STRC shares when the price is below $100. On Monday, the stock was trading at $99.22 in pre-market activity, which is roughly 0.8% below that target price. This limits the company's ability to use new share issues as a way to raise funds while the price remains under the target.

Sources

• Cointelegraph

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