Strategy Buys 1,036 BTC but Spends More Repurchasing Its Preferred Stock Just Under $100
By Unchained
AI summary of the source article
Strategy spent $188.3 million repurchasing its STRC preferred stock and $81.9 million buying 1,036 bitcoin in the week ended November 8. The transactions were funded by selling $283.8 million of MSTR common stock via an ATM program.
Why it matters
Executive Chairman Michael Saylor stated that "Strategy aims to keep STRC between $99 and $100, selling new shares when the price rises above $100 and buying them back when it falls below."
Key facts
- Strategy repurchased 1,887,464 STRC shares for $188.3 million and bought 1,036 BTC for $81.9 million in the week ended Nov. 8.
- The purchases were funded by selling 2,051,348 MSTR shares for $283.8 million after commissions via an ATM program.
- Strategy's total bitcoin holdings reached 850,364 BTC, acquired for a total of $64.16 billion.
Source excerpt · Unchained
Michael Saylor's company spent $188.3 million buying back Stretch preferred shares at about $99.76 each last week, and sold none even after the stock touched $100 intraday on Nov. 4. The post Strategy Buys 1,036 BTC but Spends More Repurchasing Its Preferred Stock Just Under $100 appeared first on Unchained .