Strategy Adds 1,665 BTC Amid Ongoing STRC Buybacks

Strategy has continued its streak of buying back its variable-rate preferred stock (STRC) while expanding its Bitcoin holdings. The company added 1,665 BTC to its treasury last week, taking its total to 847,666 units.

The latest purchase brought Strategy's Bitcoin reserve above its reported cost basis by $6.75 billion, or 10.5%. The addition also lifted the value of its Bitcoin holdings to around $70.7 billion at current prices.

Strategy used net proceeds from MSTR share sales to fund both the Bitcoin acquisition and STRC repurchases. In total, it bought back 1.53 million shares of its preferred stock for $151.7 million. The company has allocated $48.1 million from its USD cash reserves towards STRC buybacks.

The strategy's focus on expanding its Bitcoin reserve while also managing its preferred stock and common stock issuance raises questions about the company's capital-allocation priorities.