TLDR
- Strategy (MSTR) bought 267 Bitcoin for $22.1 million, lifting its total to 848,517 BTC.
- It spent $193.1 million repurchasing 1.94 million STRC preferred stock.
- The board raised its digital credit securities buyback limit to $3 billion from $2 billion.
- MSTR closed Friday at $138.83, down about 10%, then rose more than 2.5% premarket Monday.
- MSCI said new rules could lead to Strategy being dropped from its indexes.
Strategy (MSTR) stock closed Friday at $138.83, down about 10%. In premarket trading Monday, it was up more than 2.5%, according to Yahoo Finance.
The company bought 267 Bitcoin between Oct. 12 and Oct. 18. It paid $22.1 million, or about $82,900 per coin.
A Monday SEC filing puts total holdings at 848,517 BTC. The stack cost about $64 billion, an average of $75,446 per coin.
That equals more than 4% of Bitcoinâs total supply. Strategy raised the cash by selling 140,872 MSTR common stock at the market, and USD cash covered the last $0.1 million.
Preferred buybacks dwarf Bitcoin buying
Strategy spent $193.1 million repurchasing 1.94 million STRC preferred stock. That is nearly nine times its Bitcoin spend for the week.
STRC rose about 0.8% premarket to $98.45 after a 1.8% drop Friday. The company has said it wants to buy back STRC when it trades below its $100 stated value.
Fourth quarter STRC buybacks now total $459.2 million. Bitcoin purchases over the same stretch came to $72.3 million for 851 coins.
The board lifted the digital credit securities buyback limit to $3 billion from $2 billion. The STRC repurchases were paid from USD cash.
As of Oct. 18, the USD Reserve stood at $4.83 billion. Separate USD cash was $447.3 million.
Strategy also used $45.5 million from the reserve to pay preferred dividends. About $18.79 billion of MSTR stock remains available under its at-the-market program.
Saylor talks bull market as MSCI risk builds
Michael Saylor spoke at ParaFi Investor Day on Saturday. âWeâre moving back into a bull market,â he said, pointing to Bitcoinâs move back above its 200-day moving average.
He named restrictive trade, foreign and monetary policies as headwinds. Bank adoption and tokenization of traditional assets were on his list of possible drivers.
Saylor also described âperfectedâ digital money, a dollar-pegged, Bitcoin-backed stablecoin. He said it could pay yields of 6% to 8%.
Earlier last week, MSCI said new rules could lead to Strategyâs exclusion from its indexes. Metaplanet and Sharplink could also be affected.
Analysts at K33 warned the preferred stock model could cost Strategy Bitcoin as STRC dividends climb. Research head Vetle Lunde said common stock is a more efficient funding route.
On Sunday, Saylor posted a tracker chart with the line âWe found room for more orange.â It was a hint ahead of Mondayâs filing.
Strategy is the largest of 198 public companies holding Bitcoin. Metaplanet holds 44,000 BTC, Twenty One has 43,514, Strive 35,595 and MARA 35,577.
Monday premarket, MSTR was trading above Fridayâs $138.83 close, and STRC sat at $98.45.
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