Michael Saylor’s Strategy Allocates Over Triple the Amount to STRC Buybacks Compared to Bitcoin Purchases Last Week

Strategy repurchased STRC preferred shares totaling $208.2 million and invested approximately $65.5 million in purchasing 811 Bitcoin at an average price of $80,846 each, as disclosed in an SEC 8-K filing submitted on Monday.

The company sold about 1.18 million of its MSTR shares, generating net proceeds of $164 million. Of this, $65.5 million financed the Bitcoin acquisitions, while the remaining $98.5 million went into boosting Strategy’s US dollar cash reserves. As of Sunday, the firm held $132.7 million in USD cash and maintained a separate reserve of $4.79 billion in US dollars.

These recent share buybacks build upon approximately $664 million spent on STRC repurchases between October 1 and October 25, contrasting with about $72 million spent on Bitcoin acquisitions during the same period.

STRC preferred shares modestly increased by 0.1% in Monday’s pre-market trading, reaching $99.22—just under the company’s $100 target price by roughly 0.8%, according to Yahoo Finance. Strategy’s policy prevents issuing new STRC shares below $100, restricting this funding avenue when share prices lag behind the target.

In related news, Japanese Bitcoin treasury company Metaplanet revealed on Monday that it repurchased about 96.45 million common shares between October 14 and the weekend, spending approximately 25.27 billion yen ($160 million). This represents roughly 7.1% of its outstanding shares.

Michael Saylor’s Strategy is prioritizing capital allocation toward buying back preferred shares over Bitcoin purchases, which highlights its focus on managing equity funding sources amid fluctuating share prices.