Saylor's Strategy Holds Bitcoin Steady, Continues STRC Stock Buybacks
Michael Saylor's Strategy (MSTR) has gone three weeks without buying or selling any Bitcoin, but it continues to repurchase its STRC preferred stock. The company bought back around 1.42 million shares for $139.3 million during the latest week, bringing the total spent on STRC buybacks over the past three weeks to roughly $455 million.
The Strategy's flexible USD Cash pool has declined from $1.59 billion in late August to $1.30 billion over the same period. Meanwhile, its Bitcoin holdings remain unchanged at approximately 845,050 coins, with an aggregate cost basis of $63.73 billion.
MSTR stock edged 0.8% higher in pre-market trade despite broader market weakness. The repeated buybacks are reducing Strategy's flexible USD Cash pool and also reducing the company's ability to invest in Bitcoin or other assets.