Strategy opts for bigger spending on STRC buybacks over BTC purchases
Strategy bought 334 Bitcoin for $28.7 million last week while spending $176.3 million to repurchase about 1.77 million shares of STRC.
Strategy's strategy this week has been to allocate significantly more funds to buying back its STRC preferred stock than to purchasing Bitcoin. In just one week, the company acquired 334 BTC for $28.7 million, while simultaneously spending $176.3 million to repurchase about 1.77 million shares of STRC. This over six times the budget Strategy typically spends on Bitcoin purchases.
The company's holdings of BTC increased slightly to 848,000 BTC, but the capital allocation for STRC repurchases amounted to $1.38 billion. This shift in focus highlights the growing importance of STRC in Strategy's treasury strategy. The company is also seeking shareholder approval to pay regular daily dividends on STRC, STRF, STRK, and STRD, replacing the previous twice-monthly and quarterly schedules.
The proposal aims to improve liquidity and price stability without altering overall dividend obligations. Strategy's Bitcoin holdings grew by just 0.2% in the third quarter, as sales offset most of the company's purchases.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
