Strategy skips Bitcoin purchases, spends $205M on STRC buybacks
BTC when published $80,203Now $80,595 ▲ +0.49% since it was published
Strategy made no Bitcoin purchases or sales last week, as its STRC preferred stock buybacks reduced its USD Cash balance by 46% to $242.4 million. Michael Saylor’s Strategy refrained from buying or selling Bitcoin last week, choosing instead to spend $204.9 million on STRC preferred stock buybacks. Strategy repurchased 2.07 million shares between Monday and Friday, reporting no Bitcoin (BTC) transactions or stock sales through its at-the-market offering program, according to its Monday filing with the US Securities and Exchange Commission. The company said its Bitcoin holdings remained at 848,517 BTC, acquired for $64.02 billion at an average price of $75,446 per coin. At Monday’s US equities open, the biggest cryptocurrency was trading hands at roughly $79,992 apiece.
First reported by Cointelegraph. This page is a short excerpt; the full text is theirs.
