Strategy Boosts STRC Buybacks Sixfold Over Bitcoin Purchases

Strategy, the investment firm led by Michael Saylor, allocated significantly more funds to buying back its preferred stock last week than to purchasing Bitcoin. The company spent $176.3 million to repurchase approximately 1.77 million shares of its STRC preferred stock, a sum more than six times its Bitcoin acquisition budget for the week.

Between Monday and Sunday, Strategy acquired 334 Bitcoin (BTC) for $28.7 million, increasing its total holdings to 848,000 BTC. This information was disclosed in a Monday 8-K form filing with the US Securities and Exchange Commission.

The decision to prioritize STRC share buybacks over Bitcoin purchases highlights Strategy's strategic shift in its investment approach. The company's focus on repurchasing its preferred stock suggests confidence in its valuation and potential for growth.