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Cointelegraph

Strategy skips Bitcoin purchases, spends $205M on STRC buybacks

Strategy made no Bitcoin purchases or sales last week, as its STRC preferred stock buybacks reduced its USD Cash balance by 46% to $242.4 million.Michael Saylor’s Strategy refrained from buying or selling Bitcoin last week, choosing instead to spend $204.9 million on STRC preferred stock buybacks.Strategy repurchased 2.07 million shares between Monday and Friday, reporting no Bitcoin (BTC)…

Photo: Cointelegraph

Strategy made no Bitcoin purchases or sales last week, as its STRC preferred stock buybacks reduced its USD Cash balance by 46% to $242.4 million.Michael Saylor’s Strategy refrained from buying or selling Bitcoin last week, choosing instead to spend $204.9 million on STRC preferred stock buybacks.

Strategy repurchased 2.07 million shares between Monday and Friday, reporting no Bitcoin (BTC) transactions or stock sales through its at-the-market offering program, according to its Monday filing with the US Securities and Exchange Commission.

The company said its Bitcoin holdings remained at 848,517 BTC, acquired for $64.02 billion at an average price of $75,446 per coin. At Monday’s US equities open, the biggest cryptocurrency was trading hands at roughly $79,992 apiece.

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Originally published by Cointelegraph. Read the full story at the source →

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