Strategy Buys $22M in Bitcoin, Buys Back $193M of STRC

In brief

• Strategy bought 267 BTC for $22.1 million last week and repurchased $193.1 million of its STRC preferred stock, according to an SEC filing.
• Its board raised the cap on its digital credit securities repurchase program to $3 billion from $2 billion, leaving $1.16 billion available.
• The company funded the Bitcoin purchase mostly by selling MSTR common stock, while the STRC buybacks came from its cash reserves.

Strategy bought 267 BTC for $22.1 million last week and repurchased $193.1 million of its STRC preferred stock, the company said on Monday.

The Bitcoin treasury firm paid an average of $82,900 per coin, including fees, between October 12 and 18, according to an SEC filing. That compares with $86,194 a coin for the 250 BTC it bought the week before, Decrypt reported. Strategy now holds 848,517 BTC, acquired for a total of $64.02 billion at an average of $75,446 per coin.

The purchase is in line with last week's $21.5 million buy, and a fraction of the $142.7 million Strategy spent on Bitcoin in the last week of September.

Strategy co-founder Michael Saylor had hinted at the purchase in a tweet on Sunday, writing: "We found room for more orange."

Strategy paid for the purchase with $22 million raised by selling 140,872 shares of its MSTR common stock through its at-the-market offering program, plus $0.1 million of cash. It sold none of its preferred stock during the week.