Strategy’s Latest 8-K Tests Whether Bitcoin Buying…
By Damilola Esebame
AI summary of the source article
Strategy purchased 334 Bitcoin for approximately $28.7 million between October 1 and October 4, funded through equity sales and cash reserves. Meanwhile, the company accelerated preferred stock buybacks, repurchasing roughly 1.8 million STRC shares for $176.3 million.
Key facts
- Strategy bought 334 Bitcoin for about $28.7 million at an average price of $85,839 between October 1 and October 4.
- Funding came from $15.7 million in Class A common stock sales and $13.0 million in USD cash reserves.
- The company repurchased approximately 1.8 million STRC preferred shares for roughly $176.3 million between September 28 and October 4.
Source excerpt · FinanceFeeds
Strategy's most recent 8-K filing , covering October 1 through October 4, reported the company purchased 334 Bitcoin for approximately $28.7 million at an average price of about $85,839 per coin. That was down from $142.7 million in purchases the previous reporting period and $75.7 million, representing 950 BTC, between September 14 and September 20. The purchase raised questions about whether the…