Strategy Inc. Repurchases Preferred Stock, Holds Off on Buying Bitcoin

Strategy Inc., the company behind Michael Saylor's Bitcoin advocacy, made significant moves in its stock and preferred shares. The company rose over 2% in premarket trading on Monday after announcing that it had sold 5.4 million Class A shares through its ATM program, raising $544.5 million in net proceeds.

The company repurchased 288,930 STRC preferred shares for $25 million, and its USD reserve climbed to $3.75 billion from $3.225 billion the prior week. Notably, Strategy has not purchased Bitcoin for three straight weeks, with holdings frozen at 843,775 BTC acquired at an average price of $75,476 per coin.

Saylor sparked debate over the weekend by arguing that Bitcoin's growth depends on integration with traditional financial institutions, citing the need to access banks as a necessary on-ramp for mainstream adoption. This statement drew pushback from some in the Bitcoin community who view banks as intermediaries that could compromise the network's core design.