Strategy’s $2 Billion Preferred Buyback Authorization Could Last Two Weeks

Strategy could maintain its latest preferred-stock buying pace for about two weeks before exhausting its $2 billion authorization, after spending $192.4 million on repurchases in the week ended Oct. 11. The company spent that amount on its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), its largest weekly repurchase total since buying began in late July. Strategy has spent about $1.6 billion on STRC buybacks since then. Last week’s purchases cost about nine times as much as its Bitcoin purchases during the same period, with an average STRC purchase price of $99.58. The authorization had $723.5 million remaining as of Sept. 27, before later purchases shortened its runway. A Sept. 27 update to the buyback authorization showed that balance.

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