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Strategy buys 1,036 bitcoin and repurchases $188 million of STRC

Bitcoin treasury firm Strategy bought 1,036 bitcoin for $81.9 million and spent $188.3 million buying back STRC preferred shares. The moves matter to investors because the firm's holdings are now large and its preferred stock is criticized.

Illustration: A single gold-colored Bitcoin coin rests on top of a tall, neatly stacked tower of identical glowing vaults, with one new vault being lowered onto the stack by a small crane.
Illustration

Strategy, a bitcoin treasury firm, added 1,036 bitcoin to its holdings last week. The purchase cost $81.9 million, an average of $79,012 for each coin. It was the company's second weekly purchase in a row, and its total now stands at 850,364 bitcoin.

At the same time, Strategy kept buying back its STRC preferred stock. A buyback is when a company buys its own shares, and preferred stock is a class of shares that usually pays a set dividend. The firm spent about $188.3 million on STRC shares at roughly $99.76 each.

Illustration: Seen from far away at eye level, a long row of sealed vault boxes stretches across a clean platform, with a few small anonymous figures walking beside the newest box at the end of the row.
Illustration

STRC traded at $100 during the day on Nov. 4, yet the firm sold none of its shares. Peter Schiff, a prominent Bitcoin critic, has called the stock "dead". He accuses Strategy of keeping it on life support with heavy buybacks, despite a 12% dividend yield, which is the yearly payout measured against the share price.

Strategy$110.39down −22.93%over 1 month
$153.48$110.3914 Oct13 Nov

Prices can be delayed by 15 minutes or more. Past moves say nothing about future ones.

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Bitcoindown −17.05%1 month

The buybacks cost more than the bitcoin purchase last week, which shows how the firm split its spending between the two.

Strategy's weekly spending

  • Bitcoin purchase81.9 million $
  • STRC buyback188.3 million $

Figures from Strategy's SEC filing.

$1,000 in Strategy

Had you put $ into Strategy a month ago, it would be worth – now.

From the prices in the chart, before any fees or taxes. Not a suggestion to buy or sell.

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