Strategy Outspends BTC Purchase with STRC Buyback

Strategy, led by Michael Saylor, has bought back more than twice as much STRC preferred stock as it did Bitcoin in a recent week. The company spent $174 million repurchasing around 1.77 million STRC shares, outpacing its $75.7 million purchase of 950 BTC.

The strategy behind the buyback is to retire the stock at a discount and reduce future dividend payments. Strategy's USD Cash account dropped by nearly 20% to $1.05 billion after funding both deals, which were paid for from cash reserves rather than new stock sales.

This week's purchase marks an end to two straight weeks of deploying cash towards STRC over Bitcoin. In the previous weeks, Strategy spent $176.3 million and $139.3 million on preferred shares, respectively.