Strategy Repurchases Preferred Shares for $139 Million Instead of Buying More BTC

Strategy, an investment company, recently used its capital to repurchase preferred shares of itself, rather than purchasing Bitcoin. According to Wu Blockchain's information, Strategy spent a total of $139.3 million on this repurchase program.

The funds were directed specifically towards buying back 1,420,467 STRC shares. This means that Strategy's shareholders will now own more shares in the company. The repurchase program had an additional capacity for preferred shares of up to $1.05 billion and for MSTR shares of up to $1 billion.

Strategy's Bitcoin reserves remained unchanged during this period, at 845,050 BTC as of September 13. These assets were acquired at a total cost of $63.73 billion, with an average acquisition price of $75,412 per Bitcoin.