Strategy allocates three times more capital to STRC share repurchases than weekly BTC purchases

Strategy allocates three times more capital to STRC share repurchases than weekly BTC purchases

The company deployed $208.2 million toward STRC preferred share buybacks compared to $65.5 million in Bitcoin acquisitions, with an additional $98.5 million directed to its USD Cash reserves.

Last week, Strategy, the company led by Michael Saylor, allocated over triple the amount to repurchasing its STRC preferred shares compared to what it spent on Bitcoin purchases.

The firm bought back STRC shares worth $208.2 million and acquired approximately 811 Bitcoin (BTC) for roughly $65.5 million at an average purchase price of $80,846, based on a Monday filing submitted to the Securities and Exchange Commission on form 8-K.

The company divested approximately 1.18 million MSTR shares, generating net proceeds totaling $164 million. Of this amount, around $65.5 million was directed toward its Bitcoin purchase, while the balance of $98.5 million went into the company's USD Cash balance, the filing reveals. As of Sunday, the company maintained $132.7 million in USD Cash alongside $4.79 billion held in its distinct US dollar reserve.

These most recent acquisitions came after approximately $664 million worth of STRC buybacks executed between Oct. 1 and Oct. 25, while Bitcoin purchases during the same timeframe totaled around $72 million.

In pre-market trading on Monday, Strategy's STRC preferred stock experienced a 0.1% increase, reaching $99.22, which represents approximately 0.8% beneath its $100 target price, as reported by Yahoo Finance. The company maintains a policy against issuing additional STRC shares at prices below $100, which restricts this funding avenue while the stock remains under its target valuation.

Meanwhile, Metaplanet, a Bitcoin treasury company based in Japan, announced buybacks of its common shares on Monday as well. The company expended approximately 25.27 billion yen ($160 million) to repurchase 96.45 million shares during the period from Oct. 14 through Saturday, which accounts for about 7.1% of its total issued shares.