Strategy spends $888M on preferred buybacks, buys just $290M of Bitcoin
- —Preferred buybacks ran about three times the spend on Bitcoin
- —Strategy bought 3,466 BTC in a month versus 88,987 BTC accumulated by whales
- —Cash reserves fell from $1.3 billion to $447.3 million
- —About $1.84 billion of the $3 billion buyback authorization has been used
Why it matters: Slower buying by Strategy removes a key source of Bitcoin demand, with future purchases hinging on financing flexibility and STRC dividend coverage.
Source: AMBCrypto
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