Strategy Adds 334 Bitcoin, Repurchases $176.3 Million in STRC

Strategy reported buying 334 bitcoin for $28.7 million between October 1 and 4, bringing its holdings to 848,000 BTC, while spending $176.3 million on repurchases of its preferred stock, according to a company filing. The buybacks covered activity in late September as well as early October, so the full amount did not fall within the bitcoin purchase period. The company’s October 5 filing said it acquired the 334 BTC at an average price of about $85,839. The purchase increased its reported holdings to 848,000 BTC. Strategy also reported selling 92,894 shares of its common stock for $15.7 million in net proceeds, which it said went toward bitcoin purchases, alongside $13 million drawn from cash. The $176.3 million in repurchases involved Strategy’s Stretch preferred stock, known as STRC. The filing broke the total into $102.6 million spent in the final days of September and $73.7 million during the first four days of October. Strategy repurchased about 1.77 million STRC shares across those periods. The company said $154.1 million of the buyback funding came from its cash balance and $22.2 million from interest earned on cash and short-term investments.