Strategy opts for bigger spending on STRC buybacks over BTC purchases
Strategy bought 334 Bitcoin for $28.7 million last week while spending $176.3 million to repurchase about 1.77 million shares of STRC.
Michael Saylor’s Strategy last week spent more than six times its weekly Bitcoin buying budget on its repurchases of one of its preferred stocks.
Strategy bought 334 Bitcoin (BTC) for $28.7 million between Monday and Sunday, bringing its holdings to exactly 848,000 BTC, according to a Monday 8-K form filing with the US Securities and Exchange Commission.
Over the same period, Strategy repurchased about 1.77 million shares of its STRC preferred stock for $176.3 million.