Strategy spent $208.2 million repurchasing STRC preferred stock and $65.5 million on Bitcoin, while also setting aside $98.5 million toward its U.S. dollar cash balance.
Michael Saylor’s strategy spent more than three times as much buying back his STRC preferred stock last week as it did purchasing Bitcoin.
According to an 8-K report on Monday, Strategy repurchased $208.2 million worth of STRC and bought around $65.5 million for 811 Bitcoin (BTC) at an average price of $80,846 submission with the Securities and Exchange Commission.
Strategy sold approximately 1.18 million MSTR shares for net proceeds of $164 million. Approximately $65.5 million funded the Bitcoin acquisition, while the remaining $98.5 million was allocated to the company’s cash balance in U.S. dollars, the filing said. The company had $132.7 million in cash and $4.79 billion in separate U.S. dollar reserves as of Sunday.
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