Strategy Raises Its Preferred Buyback Cap to $3 Billion After Another $193 Million STRC Week

Strategy’s board approved a $1 billion increase to the company’s preferred stock buyback program, bringing the total it can spend to $3 billion , the bitcoin treasury company disclosed in a Form 8-K on Monday. The move came after Strategy used $193.1 million to repurchase 1,938,780 shares of its STRC preferred stock between Oct. 12 and Oct. 18. In the same week, the company bought 267 BTC for $22.1 million , at an average price of $82,900 a coin, fees included. That puts its stack at 848,517 BTC , acquired for a combined $64.02 billion, or $75,446 per coin on average. The STRC repurchases cost almost nine times what Strategy put into bitcoin over those seven days.

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