Strategy spends $888M on preferred buybacks – Is Bitcoin taking back seat?

Strategy has prioritized bolstering its capital base rather than accelerating the purchase of Bitcoin [BTC], using approximately three times more for preferred stock repurchases. From the 14th of September to the 18th of October, Strategy purchased nearly $888 million worth of its own preferred stock. During that same time frame, it acquired an additional 3,466 Bitcoins at a cost of approximately $290 million. Although Strategy may be able to reduce future obligations related to dividends, the reduced rate of growth in Treasury holdings is likely to continue. The weekly purchases of Bitcoin declined dramatically from 1,665 in late September to only 267 by the middle of October, while the amount spent by Strategy on buybacks grew to $193.1 million.

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