Strategy spends nine times more on STRC buybacks than on Bitcoin
- —In the week to October 11 it bought 250 BTC for $21.5 million and repurchased $192.4 million of STRC
- —USD Cash dropped from $833.4 million to $640.5 million; about $354.8 million of buyback authority remains
- —Strategy holds 848,250 BTC, roughly 79% of public bitcoin treasury company reserves
- —Its average BTC cost is $75,444, implying a paper gain of about $5 billion
Why it matters: Strategy is now spending more on STRC support than on Bitcoin, altering its accumulation model and signaling pressure on its mNAV premium.
Source: Coindoo