STRC Repurchases Swallow $2.57 for Every Dollar Spent on Bitcoin

Strategy, a company that manages a significant amount of Bitcoin and has its own preferred shares, has spent $950.8 million repurchasing those shares since July 20. This is more than twice what it spent acquiring Bitcoin during the same period.

The latest repurchase, totaling $139.3 million, was funded entirely from Strategy's USD Cash balance and brought the company's total STRC spending to about $950.8 million. Meanwhile, its reported Bitcoin purchases were confined to Aug. 24-30, when it acquired 4,603 BTC for $369.7 million.

This means that Strategy spent roughly $2.57 on repurchasing STRC shares for every dollar it spent buying Bitcoin during the eight-week window. The company's cumulative STRC spending stood at $811.5 million before the latest purchases.