Strategy’s Preferred Share Buybacks Since October Reach $1.06 Billion

Strategy’s repurchases of its Stretch preferred shares have totaled about $1.06 billion since October, nearly five times the $219.7 million it spent on Bitcoin (BTC) over the same period. The gap continued in the most recent week, when preferred share buybacks exceeded Bitcoin spending by more than twofold.

Strategy bought 1,036 BTC for $81.9 million, at an average price of $79,012 per coin. It also spent $188.3 million to repurchase about 1.89 million Stretch shares. The Bitcoin purchase was the company’s second consecutive weekly buy.

Strategy raised $283.8 million in net proceeds by selling about 2.05 million common shares through its at-the-market program. It allocated $188.3 million to preferred share repurchases and $81.9 million to Bitcoin, while adding the remaining $13.6 million to its U.S. dollar cash balance.

The company now holds 850,364 BTC, acquired for a total of $64.16 billion, or an average of $75,456 per coin. Its holdings equal about 4.05% of Bitcoin’s 21 million maximum supply.