Strategy Pauses Bitcoin Buying, Spends $205M Buying Back STRC

In brief

• Strategy bought no Bitcoin last week, its first pause since mid-September, and sold no shares through its at-the-market offering program, according to an SEC filing.
• The company spent $204.9 million of its USD Cash buying back 2,068,459 shares of STRC, its variable-rate preferred stock, up from $193.1 million the week before.
• Strategy still holds 848,517 BTC, while its USD Cash balance fell to $242.4 million from $447.3 million a week earlier.

Strategy did not buy any Bitcoin last week, breaking a run of weekly purchases that began in mid-September, as it spent $204.9 million buying back its STRC preferred stock instead, the company said on Monday.

The Bitcoin treasury firm also sold no shares through its at-the-market offering program between October 19 and 25, according to an SEC filing. It holds 848,517 BTC, acquired for a total of $64.02 billion at an average of $75,446 per coin.

The pause follows a string of smaller Bitcoin purchases. Strategy bought 267 BTC for $22.1 million the previous week, after spending $21.5 million on 250 BTC the week before that and $29 million in the week it posted a $21 billion third-quarter gain.

The STRC buyback, covering 2,068,459 shares, was the largest of those weeks, up from $193.1 million the week before and $192.4 million the week prior. Strategy paid for it entirely from USD Cash, the pool of money it keeps for general purposes including buying Bitcoin, which fell to $242.4 million from $447.3 million a week earlier.