Strategy Spends $188M on Preferred Buybacks, Just $82M on Bitcoin
MSTR sits 52% above its 52-week low of $81.81.
Summary
Strategy bought 1,036 BTC for about $82 million last week, but put roughly $188 million — about 2.3 times as much — into repurchasing its STRC preferred stock. Both were funded by selling about 2.05 million MSTR common shares for $283.8 million net, with $13.6 million left as cash. That mix matters: the company issued common equity while retiring preferred, so the bitcoin pile grew but so did the common share count. Holdings now stand at 850,364 BTC at an average cost of $75,456; the new coins averaged $79,012 each. The dollar reserve backing preferred dividends and debt interest was $4.77 billion as of November 8, with $146.2 million in USD cash.
At the time of this announcement, MSTR was trading at $124.18 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $53B. The 52-week trading range was $81.81 to $249.96. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Brave New Coin.