Strategy Buys 1,036 BTC but Spends More Repurchasing Its Preferred Stock Just Under $100

Strategy spent $188.3 million buying back its own STRC preferred stock in the week ended Nov. 8, more than twice the $81.9 million it put into bitcoin, the company disclosed in a Form 8-K on Monday. Both came out of sales of its Class A common stock. Through its at-the-market (ATM) program, which lets it issue shares straight into the market, Strategy sold 2,051,348 MSTR shares for $283.8 million after commissions. About two-thirds of that money, or 66%, went to repurchasing STRC, the variable-rate perpetual preferred stock the company calls Stretch. The last $13.6 million was added to USD Cash, the pool management keeps for general purposes. A week earlier, none of the MSTR proceeds went to STRC, which Strategy bought back with $208.2 million of USD Cash. Strategy’s Nov.

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