Strategy purchases 334 Bitcoin while spending $176.3 million on preferred‑stock buybacks
Strategy (formerly MicroStrategy) bought 334 BTC for $28.7 million in early October, raising its total holdings to exactly 848,000 BTC. In the same filing the company repurchased about 1.77 million shares of its 12% preferred stock (STRC) for $176.3 million, part of a $1.45 billion repurchase program. The Bitcoin purchase generated a $20.9 billion unrealised gain for the quarter, while the preferred‑stock buybacks aim to stabilise STRC near its $100 target price. Shareholders will vote on daily dividend accruals for the preferred securities on Oct. 28.
Why it matters
The company estimates a $20.91 billion fair‑value gain on its Bitcoin holdings for Q3, which boosts its balance‑sheet value (the company says). The preferred‑stock repurchase and proposed daily dividends are intended to support STRC’s price near $100, which Strategy views as critical for future capital raising for Bitcoin purchases (the company says).
Key facts
- 1Strategy bought 334 BTC for $28.7 million between Oct. 1 and Oct. 4. cryptorank.io
- 2The purchase raised total Bitcoin holdings to exactly 848,000 BTC. beincrypto.com
- 3Strategy spent $176.3 million repurchasing about 1.77 million STRC shares. cryptorank.io
- 4The repurchases bring total spending under the preferred‑stock program to roughly $1.45 billion, leaving $547.2 million available. cryptorank.io
- 5Strategy estimated a $20.91 billion unrealised gain on its Bitcoin holdings for Q3. cryptorank.io
- 6Shareholders will vote on Oct. 28 to approve daily dividend accruals for the four US‑listed preferred securities. cryptorank.io
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.