Strategy’s discretionary cash falls 72% as buyback authorization rises to $3 billion
BTC when published $81,860Now $80,617 ▼ −1.52% since it was published
Strategy's discretionary USD Cash fell to $447.3 million as the company spent another $193.1 million on STRC buybacks and raised its preferred-stock repurchase authorization to $3 billion. The Michael Saylor -led company disclosed on Oct. 19 that it bought Bitcoin for $22.1 million at an average price of $82,900 over the previous week. The acquisitions increased its holdings to 848,517 BTC, accumulated for approximately $64.02 billion. During the same period, Strategy spent another $193.1 million repurchasing nearly 1.94 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), extending an aggressive campaign to support the security's trading price near its $100 stated value. The firm's discretionary USD Cash holdings declined about 72% to $447.3 million as of Oct. 18, down from $1.61 billion on Aug. 30.
First reported by CryptoSlate. This page is a short excerpt; the full text is theirs.
