MSTR Preferred Stock Repurchased Amid Crypto Rout

Strategy Inc (MSTR), a bitcoin treasury company, saw its shares rise 2.63% after announcing a repurchase of its preferred stock instead of buying bitcoin in the past week.

This move has raised concerns about the company's business model, which is heavily reliant on holding and accumulating Bitcoin (BTC).

The recent crypto rout has likely taken a toll on Strategy Inc's business model, leading to this decision to repurchase its preferred stock rather than investing in more bitcoin.