Strategy Posts $21B Q3 Gain, Buys $29M in BTC, Repurchases $176M in STRC

In brief

• Strategy acquired 334 BTC for $28.7 million between October 1 and 4, taking holdings to 848,000.
• Over the same stretch it repurchased $176.3 million of its Stretch preferred stock.
• It estimates a $20.91 billion gain on digital assets for the third quarter, against $1.88 billion of deferred tax expense.

Strategy bought 334 BTC last week and spent more than six times as much buying back its own preferred stock, according to a filing that also put the company's third-quarter gain on digital assets at $20.91 billion.

The Bitcoin was bought between October 1 and 4 at an aggregate $28.7 million, an average of $85,838.80 a coin, taking Strategy's holdings to 848,000 BTC. That marks a fresh record for the Bitcoin treasury company, a week after the company passed its June high. It bought nothing in the final three days of September.

Against that, Strategy repurchased 1,033,168 Stretch (STRC) shares for $102.6 million in the last days of September and a further 740,634 for $73.7 million in the first four days of October, $176.3 million in all. Of that, $154.1 million came from its USD Cash balance and $22.2 million from interest earned on cash and short-term investments. The preferred buyback program has $547.2 million left.