MSTR Stock Slumps as Strategy Doubles Buyback Program, Snubs New Bitcoin Buys
Strategy, the company behind the MSTR stock ticker, announced it has doubled its authorized buyback program to $2 billion. This decision was made after the company's latest filing revealed no new Bitcoin purchases over the past week. Strategy's Bitcoin holdings remain at approximately 845,050 coins, acquired at an aggregate cost of $63.73 billion.
The company used its 'USD Cash' pool, a flexible liquidity reserve established last month, to fund the entire repurchase of 1.8 million STRC shares for $176.3 million. The USD Cash pool stood at $1.44 billion after the latest repurchase, down from $1.59 billion two weeks ago.
Strategy's separate 'USD Reserve' remained unchanged at $5.10 billion, designated for preferred-stock dividends and debt-interest payments. This week's filing also marked a second consecutive week without any change to Strategy's core Bitcoin position, extending a pattern of intermittent buying.