Saylor's Bitcoin Pause Continues as STRC Buybacks Accelerate
Michael Saylor's strategy has paused its weekly Bitcoin buys for the second time in as many weeks. The Bitcoin treasury, however, has continued to repurchase shares of STRC stock, buying back over $176 million worth last week.
The company's SEC filing shows that it did not purchase or sell any BTC during this period, maintaining its holdings at 845,050 units acquired for $63.73 billion at an average price of $75,412 per coin.
This follows the resumption of Bitcoin purchases two weeks ago after a two-month hiatus, with the company acquiring 4,603 BTC at that time. However, it had previously sold some of its BTC holdings during this period.
The STRC stock buyback program has been ongoing for several weeks, with the company increasing the size of its Digital Credit Securities Repurchase Program from $1 billion to $2 billion in an effort to drive the stock back up to its par value of $100.