Strategy Raises Preferred Securities Buyback Cap to $3 Billion

Strategy Inc raised its preferred securities buyback authorization to $3 billion and disclosed $193.1 million of STRC repurchases and the purchase of 267 Bitcoin (BTC) for Oct. 12–18.

From Oct. 12 to Oct. 18, the company bought the BTC for $22.1 million, paying an average of $82,900 per coin including fees. Its holdings reached 848,517 BTC as of Oct. 18, acquired for a total of $64.02 billion.

Strategy funded $22 million of the purchase by selling 140,872 MSTR common shares through its stock offering program. It used $0.1 million of cash for the balance.

The company also bought back 1,938,780 shares of STRC preferred stock for $193.1 million in cash. The board raised the preferred securities repurchase limit from $2 billion to $3 billion. That limit includes earlier purchases, leaving $1.16 billion available as of Oct. 18.

The moves followed a week in which Strategy bought 250 BTC for $21.5 million and repurchased $192.4 million of STRC. As of Oct. 18, it held a separate $4.83 billion reserve for preferred dividends and debt interest, plus $447.3 million in cash for broader treasury uses.

Shareholders are scheduled to vote Oct. 28 at 10 a.m. ET (14:00 UTC) on amendments that would make each calendar day a dividend record date for STRC.