Strategy Scoops Up $21.5M in Bitcoin, Buys Back $192M in STRC

In brief

• Bitcoin treasury firm Strategy bought 250 BTC for $21.5 million last week, at an average price of $86,194 per coin, bringing its holdings to 848,250 BTC.
• The company also repurchased 1.93 million shares of its STRC preferred stock for $192.4 million.
• Strategy funded the Bitcoin purchase mainly by selling $21 million of MSTR common stock, and holds $5.5 billion in U.S. dollar assets.

Strategy bought 250 BTC last week and spent $192.4 million repurchasing its STRC preferred stock, the company said on Monday.

The Bitcoin treasury firm paid $21.5 million for the coins between October 5 and October 11, an average of $86,194 per Bitcoin including fees, according to its release. It now holds 848,250 BTC, a new record, acquired for a total of $64 billion at an average of $75,444 per coin.

Strategy raised $21 million by selling about 125,000 shares of its MSTR common stock through its at-the-market offering program, and used $500,000 of cash to cover the rest. It sold none of its preferred stock during the week.

The company repurchased 1,932,145 shares of STRC, its variable-rate Stretch preferred stock, leaving $354.8 million available under its program to buy back preferred shares.

Last week, Strategy bought $29 million in Bitcoin and repurchased $176 million of STRC as it posted a $21 billion third-quarter gain.