Strategy’s STRC hit $100, but common stock still funded last week’s Bitcoin purchases

Strategy funded its Bitcoin purchases with common-stock sales during November 2–8, even as STRC, its variable-rate preferred stock, reached $100. Strategy had said it would not issue STRC below that price, but its November 9 disclosure reported no STRC sales under its at-the-market offering program. The allocation shows where the week’s financing went. Of $283.8 million in net proceeds from MSTR common shares, $188.3 million funded STRC repurchases, $81.9 million funded Bitcoin purchases and $13.6 million went to USD Cash, according to the weekly financing update . That put about two-thirds of the new common-stock money into buying back preferred shares. Less than a third went into Bitcoin. STRC’s market-price recovery had yet to become reported STRC ATM financing within that week.

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