Strategy spends 208 million dollars on share buybacks and 66 million on Bitcoin

Strategy spent 208.2 million dollars repurchasing its STRC preferred shares and approximately 65.5 million dollars to acquire 811 Bitcoin between October 26 and November 1, according to filings with the Securities and Exchange Commission reported by CryptoSlate, Cointelegraph, and Decrypt. Cointelegraph and Decrypt both noted that the company spent more than three times as much on preferred stock buybacks as it did on acquiring Bitcoin. [1][2][3][4]

The company paid an average price of 80,846 dollars per Bitcoin, according to Cointelegraph and Decrypt. The purchases were funded through the sale of roughly 1.18 million shares of MSTR common stock, which generated 164 million dollars in net proceeds. Cointelegraph and Decrypt reported that 65.5 million dollars of the proceeds funded the Bitcoin acquisition, while the remaining 98.5 million dollars was allocated to Strategy's USD cash balance. [2][3][4]

CryptoSlate and Decrypt reported that Strategy's deployable cash balance fell to approximately 133 million dollars as share buybacks exceeded Bitcoin purchases. CryptoSlate added that the deployable cash balance fell by 45.3 percent from 242 million dollars, noting that Strategy also held a separate 4.79 billion dollar USD reserve dedicated to preferred stock dividends and debt interest. [1][4]

Following the transaction, Strategy holds 849,327 Bitcoin acquired for a total of 64.08 billion dollars, according to Decrypt, Altcoin Buzz, and Bitcoin Magazine. As FTMQ Crypto reported earlier, treasury firms face a balancing act managing cash needed for Bitcoin acquisitions alongside rising dividend obligations from issued preferred stock. [4][6][7][13]