Strategy Skips Bitcoin Purchases Again Amid Focus on Preferred Stock
Strategy Inc. (NASDAQ:MSTR) has skipped Bitcoin purchases for the second consecutive week, using $139.3 million to buy back preferred stock instead.
The company's Bitcoin holdings remain unchanged at 845,050 BTC, acquired at an average price of roughly $75,412 per coin.
This move follows a single large Bitcoin purchase on August 31, when Strategy bought 4,603 BTC for $370 million. However, with no follow-through purchases and the absence of a post from CEO Saylor announcing a 'We're Back' campaign, it seems that fresh Bitcoin purchases are unlikely until the company's priority of stabilizing its preferred stock at par is met.
Strategy still has $1.05 billion remaining under its digital credit securities repurchase program and $1 billion available for MSTR common stock buybacks.