Strategy acquired 1,036 Bitcoin for $81.9 million over the past week at an average price of $79,012 per coin. The additional assets lifted the company’s holdings to 850,364 BTC, acquired at a cumulative cost of $64.16 billion with an average price of $75,456 per coin. The portfolio now accounts for approximately 4.05% of Bitcoin’s 21 million maximum supply.
Yet behind the digital asset accumulation, the company’s recent cash spending was significantly larger for its own preferred shares.
Where the Rest of the Money Went
Alongside the Bitcoin purchases, Strategy repurchased 1,887,464 STRC preferred shares valued at $188.3 million. This preferred stock buyback absorbed more than twice the capital spent on acquiring coins during the same week.
Since early October, capital deployment toward preferred shares has been even more dominant. Strategy spent approximately $1.06 billion specifically to repurchase STRC stock - nearly five times its Bitcoin purchases over the same period, which totaled just $219.7 million.
To cover the cash needs for both spending programs, Strategy sold 2,051,348 shares of MSTR common stock through an at-the-market offering. The common share sale provided net proceeds of roughly $283.8 million to the corporate treasury.
Ahead of New MSCI Index Rules
The corporate action was announced just two days before index provider MSCI publishes a list of issuers impacted by new rules concerning single-asset concentration. That release schedule has placed Strategy’s capital allocation under the spotlight of both stock and crypto markets.
On the company’s balance sheet, US dollar cash reserves increased by about 10% to $146.2 million as of November 8, bringing dollar-based asset holdings to $4.9 billion. In addition, the company maintains substantial financing flexibility, with $18.34 billion in remaining capacity under its MSTR common stock offering program, plus a $560.3 million allocation for preferred stock buybacks.
At the same time, institutional accumulation also came from other entities. Through Chief Executive Officer Matt Cole, Strive announced the purchase of 29 BTC worth $2.2 million at an average price of $75,721 per coin. The new purchase brought Strive’s total coin reserves to 43,153 BTC.
For market participants and MSTR shareholders, these moves illustrate two concurrent agendas: maintaining Bitcoin reserve accumulation beyond 4% of the global supply while accelerating preferred stock buybacks before the MSCI index evaluation is released.
Reported by crypto.news.
Also read: What Is Bitcoin Halving?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
