Strategy buys 950 BTC, shrinks STRC with $174M buyback
Strategy, the largest publicly traded Bitcoin treasury company, spent $174 million to repurchase $950 Bitcoin. The company resumed Bitcoin purchases after a two-week break, adding 950 BTC for an average of $79,670 per coin, bringing its total holdings to 846,000 BTC. This investment is valued at approximately $8.05 billion at the current Bitcoin price of $84,925.
Strategy also repurchased $174 million worth of STRC preferred stock during the same period, trading at $98.85 during pre-market trading. The company still has $875.1 million available for STRC repurchases and $1 billion remaining for MSTR share repurchases. Strategy's cash reserves decreased to $1.05 billion, while its reserve decreased to $5.04 billion following dividend payments and debt interest.
The company's shares rose 7.4% to $165.2 in pre-market trading, while STRC shares increased by 0.35% to $98.85.
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