Strategy spent nearly nine times as much on STRC buybacks as Bitcoin last week
BTC when published $83,247Now $80,595 ▼ −3.19% since it was published
Strategy (formerly MicroStrategy) bought 250 Bitcoin for $21.5 million last week while spending $192.4 million to repurchase its STRC preferred shares. On Oct. 12, the Michael Saylor-founded company disclosed that it acquired just 250 Bitcoin for about $21.5 million between Oct. 5 and Oct. 11, extending a slowdown that saw purchases fall to 334 BTC the previous week. Meanwhile, Strategy repurchased 1,932,145 shares of its variable-rate STRC preferred stock for $192.4 million, nearly nine times its Bitcoin spending, as the company continued its STRC buybacks.
First reported by CryptoSlate. This page is a short excerpt; the full text is theirs.
