Strategy Amasses $650M in USD Reserve, Buys Back STRC Shares

Strategy Inc (MSTR) had a busy week that saw its U.S. dollar reserve increase by $650 million, according to an announcement made on Monday. The company used some of the proceeds from selling Bitcoin (BTC-USD) to repurchase shares of its Series A Perpetual Stretch Preferred Stock (STRC), buying back around $109 million worth.

The update from Strategy came at a time when many are keeping a close eye on the company's moves, particularly given the recent market fluctuations. While details about the exact timing and motivations behind these actions have not been disclosed, it is clear that Strategy has made significant adjustments to its portfolio.