Strategy buys 250 Bitcoin and repurchases $192.4 million of preferred shares
- —Bought 250 BTC for $21.5 million, $21.0 million funded by selling 125,183 common shares
- —Repurchased 1,932,145 STRC preferred shares for $192.4 million, nine times the Bitcoin spend
- —Holdings rose from 848,000 to 848,250 BTC, roughly 4% of the 21 million supply
- —Voting closes October 27, special shareholder meeting set for October 28
Why it matters: Strategy has shifted from buyer to occasional seller of BTC to fund preferred dividends, while an mNAV near 0.95 limits further purchases.
Source: CryptoTicker