Strategy STRC buybacks totaled $204.9 million last week. As a result, the company made no Bitcoin purchases or sales.
Why Strategy STRC buybacks matter
Strategy repurchased 2.07 million STRC shares between Monday and Friday. Meanwhile, the company reported no Bitcoin transactions. Additionally, it reported no stock sales through its at-the-market program. The SEC filing confirmed these details.
Consequently, Bitcoin holdings remained at 848,517 BTC. The company acquired these coins for $64.02 billion. That equals an average price of $75,446 per coin. For context, Bitcoin traded near $79,992 at Monday’s US equities open.
USD Cash balance falls after buybacks
Strategy’s US dollar reserve remained unchanged at $4.83 billion. However, its USD Cash balance fell about 46%. Specifically, it dropped to $242.4 million from $447.3 million. Management used $204.9 million for STRC repurchases.
Since October began, Strategy has spent about $664 million on STRC buybacks. In contrast, it spent $72.3 million buying 851 BTC.
Market reaction and Bitcoin price
The pause came as Bitcoin fell toward $80,000 last week. Earlier, it reached $84,777 on Wednesday. TradingView data confirms this.
Strategy’s common stock fell 2.5% to $139.82 in Tuesday’s premarket. Meanwhile, its STRC preferred shares edged down 0.01% to $99.17.
Key takeaway
Strategy prioritized STRC buybacks over Bitcoin purchases. Therefore, its USD Cash balance dropped sharply. Investors will watch whether the company resumes Bitcoin buying this week.