Strategy buys 267 BTC last week, expanding its Bitcoin treasury. The company also continued its STRC stock buyback. Specifically, it repurchased $193 million in shares. Additionally, it expanded the authorized purchase price to $3 billion.
Why Strategy buys 267 BTC matters
According to an SEC filing, the company acquired 267 BTC. This happened between October 12 and 18. The purchase cost $22.1 million. Therefore, the average price was $82,900.
Strategy now holds 848,517 BTC. It bought these for $64.02 billion. Consequently, the average price is $75,446.
The purchase follows last week’s 250 BTC buy. Meanwhile, co-founder Michael Saylor teased the move on Sunday. He posted on X: “We found room for more orange.”
How Strategy funded the purchase
Strategy funded the purchase primarily with MSTR stock sales. Specifically, it sold 140,872 MSTR shares for $22 million. The remaining $100,000 came from the USDC cash pool.
MSTR stock is up after the announcement. It trades around $140, up over 2% premarket. However, the stock is down more than 11% over the past week.
STRC stock buyback continues
Strategy also continued its STRC buyback program. It acquired nearly 1.94 million shares for $193.1 million. In addition, the board approved an increase in the program. The aggregate purchase price rose from $2 billion to $3 billion.
Under the program, Strategy could still buy back up to $1.16 billion in STRC shares. Meanwhile, the company prepares for an October 28 vote. That vote could allow daily STRC dividends in November, if stockholders approve.
STRC stock is up in premarket trading. It trades around $98, according to TradingView data. The stock remains below its $100 par value. Nevertheless, it is up over 155% in three months from a low near $70.
Key takeaway
Strategy continues to expand its Bitcoin treasury. At the same time, it keeps supporting STRC. Therefore, investors will watch the October 28 vote and future MSTR sales.
