Strategy bought 334 Bitcoin for $28.7 million last week, lifting its holdings to exactly 848,000 BTC, while spending far more on buybacks of one of its preferred stocks, Cointelegraph reported.
The company repurchased about 1.77 million STRC preferred shares for $176.3 million over the same Monday-to-Sunday period, according to a Monday 8-K filing with the US Securities and Exchange Commission. That buyback outlay was more than six times the weekly Bitcoin spend.
Also read: Strategy Buys 1,665 Bitcoin for $142.7M, Holdings Hit 847,666 BTC
Key facts
- Strategy bought 334 Bitcoin for $28.7 million between Monday and Sunday, bringing total holdings to exactly 848,000 BTC.
- It repurchased roughly 1.77 million STRC preferred shares for $176.3 million in the same week.
- A separate proxy filed Monday seeks approval for daily dividend payments on STRC, STRF, STRK and STRD.
- Shareholders will vote on the change at a special meeting on Oct. 28.
- If approved, STRC’s daily schedule would start in November and STRF, STRK and STRD would follow in January.
Preferred stock moves to the centre of the treasury strategy
The capital allocation reflects the growing role of Strategy’s preferred securities in both funding and managing its Bitcoin treasury approach. The company said the broader dividend proposal would not change dividend rates or its overall payment obligations, but could shorten reinvestment delays and improve liquidity and price stability.
The buybacks are part of a board-approved program aimed at managing the discount of STRC shares, according to Cryptobriefing. That outlet reported that market pricing for STRC reaching $100 by December 31 moved to an 85.5% likelihood, up from 84% a day earlier and 79% a week before, framing the shift as a response to the company’s financial maneuvers. Cryptobriefing notes it examines how events may relate to prediction market pricing and describes the item as informational analysis rather than investment advice.
Also read: Strategy's capital overhaul: Can buybacks and a Bitcoin sale option silence 'death spiral' fears?
Why it matters
Strategy remains the largest corporate holder of Bitcoin, and its weekly disclosure is read as a signal of how aggressively it is willing to convert capital markets capacity into coins. Last week the answer was less Bitcoin buying and more balance-sheet repair on the preferred side, a shift that affects STRC holders and anyone tracking the company’s funding mix. The dividend proposal would also change how predictable and frequent payouts are for holders of all four preferred series.
What to watch
The special shareholder meeting on Oct. 28 is the next hard date. Approval would set up a November start for STRC’s daily dividends, with STRF, STRK and STRD following in January. Any further Bitcoin purchases or change in the buyback approach could shift how the market prices STRC.
This is not financial advice, and prices in crypto and related markets are volatile and uncertain.
Reported by cointelegraph.com.
Sources: Cointelegraph, Cryptobriefing