Strategy Halts Bitcoin Buys, Spends $205M on STRC Buybacks

Strategy made no Bitcoin purchases or sales last week, instead using $204.9 million to repurchase 2.07 million shares of its STRC preferred stock. The transactions were disclosed in a Monday filing with the US Securities and Exchange Commission.

Michael Saylor’s Bitcoin treasury company still holds 848,517 BTC, acquired for $64.02 billion at an average price of $75,446 per coin. Bitcoin traded near $79,992 at Monday’s US market open after reaching $84,777 on Wednesday. The company also reported no stock sales through its at-the-market offering program.

Strategy’s $4.83 billion US dollar reserve remained unchanged, but its separate USD Cash balance fell approximately 46%, from $447.3 million to $242.4 million, following the STRC buybacks. Since October began, Strategy has spent about $664 million repurchasing STRC preferred shares, compared with $72.3 million used to buy 851 BTC.

Shares of Strategy’s common stock, MSTR, fell 2.2% to $142.80 in Monday premarket trading. STRC preferred shares slipped 0.01% to $99.35, according to Yahoo Finance.