Strategy opted against Bitcoin transactions last week, focusing its capital on a buyback program for STRC preferred stock. The company repurchased 2.07 million shares between Monday and Friday, utilizing $204.9 million for the effort. This activity resulted in a 46% reduction of the firm's USD cash balance, which dropped from $447.3 million to $242.4 million.
According to a filing with the US Securities and Exchange Commission, the company's total Bitcoin holdings remain at 848,517 BTC. These assets were acquired for a total of $64.02 billion, averaging $75,446 per coin. While the company paused its crypto acquisitions, it has spent approximately $664 million on STRC share repurchases since the start of October, compared to $72.3 million spent on buying 851 BTC.
Market data indicates that Bitcoin prices fluctuated last week, reaching $84,777 on Wednesday before declining toward the $80,000 level. Following these developments, Strategy's common stock MSTR saw a 2.2% decline to $142.80 in premarket trading on Monday. Meanwhile, the STRC preferred shares experienced a minor decrease of 0.01%, settling at $99.35.
