Strategy Adds 950 BTC at $79.7K, Repurchases $174M of STRC Preferred
MSTR has more than doubled off its 52-week low of $81.81 on elevated volume (2.3× avg).
Summary
Strategy bought 950 BTC for $75.7M at an average $79,670 per coin last week, lifting total holdings to 846K BTC at a $75,416 average cost. The company also repurchased 1.77M shares of its STRC preferred for $174M, with $875.1M remaining under that program. No MSTR shares were sold via the ATM during the period, and cash reserves stand at $6.09B. The stock is up 8% pre-market alongside a 5% BTC jump to $85,325. This follows the June halt in purchases and the new Digital Credit Capital Framework; the buyback shows continued capital return to preferred holders.
At the time of this announcement, MSTR was trading at $165.12 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $59.1B. The 52-week trading range was $81.81 to $365.21. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Seeking Alpha.