Strategy Prioritizes Share Buybacks Over Bitcoin Purchases
Strategy, an entity that holds significant amounts of Bitcoin, has purchased another 1,665 units between September 21 and 27 for approximately $142.7 million.
The average price per unit was around $85,681. Following this acquisition, the company's total Bitcoin holdings reached 847,666 units as of September 27. The total cost of all acquired Bitcoins is now over $63.95 billion, with an average cost of about $75,437 per unit.
Strategy also generated net proceeds of around $246.2 million from selling MSTR shares through its at-the-market (ATM) program during the same period.
The company used part of these funds to repurchase its own preferred STRC shares, exceeding the amount spent on Bitcoin purchases. Specifically, Strategy bought 1,534,530 STRC shares for $151.7 million, which is around $9 million more than what was spent on Bitcoin.