Strategy Spends $208M on STRC Buybacks and Buys 811 Bitcoin

Strategy, the Bitcoin treasury company led by Michael Saylor, spent $208.2 million repurchasing STRC preferred shares last week—more than three times the roughly $65.5 million used to acquire Bitcoin. According to the company’s Monday filing with the Securities and Exchange Commission, Strategy purchased 811 BTC at an average price of $80,846.

The company funded the purchases by selling approximately 1.18 million MSTR shares for net proceeds of $164 million. It allocated $65.5 million to Bitcoin and deposited the remaining $98.5 million into its USD Cash balance. As of Sunday, Strategy held $132.7 million in USD Cash and maintained a separate US dollar reserve of $4.79 billion.

The STRC buyback followed approximately $664 million in repurchases between Oct. 1 and Oct. 25, compared with about $72 million spent on Bitcoin during the same period. STRC traded at $99.22 in Monday pre-market trading, roughly 0.8% below its $100 target price. Strategy’s policy of not issuing new STRC shares below $100 currently limits that source of funding.

Japan’s Metaplanet also announced a major share buyback, spending approximately 25.27 billion yen, or $160 million, to repurchase 96.45 million common shares between Oct. 14 and Saturday. The transaction covered about 7.1% of the company’s issued shares.