Strategy purchased 267 BTC for $22.1 million and repurchased $193.1 million of its STRC preferred stock during the week ending October 18, according to an SEC filing released Monday.
The Bitcoin acquisitions were made at an average price of $82,900 per coin, including fees. Strategy now holds 848,517 BTC acquired for a total of $64.02 billion at an average of $75,446 per coin.
The company funded the Bitcoin purchase primarily through its at-the-market offering program, selling 140,872 shares of MSTR common stock to raise $22 million, supplemented by $0.1 million in cash. The preferred stock repurchases were funded from its USD Cash reserves.
Strategy's board increased the authorized size of its digital credit securities repurchase program to $3 billion from $2 billion. After the week's transactions, $1.16 billion remained available under the program. A separate common stock repurchase program has $1 billion remaining.
The company also allocated $45.5 million from its USD Reserve for dividend payments. As of October 18, the reserve held $4.83 billion and USD Cash held $447.3 million.
Strategy has conducted weekly preferred stock buybacks in recent weeks, purchasing $192.4 million the prior week and $176 million the week before that.
The repurchase activity occurs as Strategy faces potential removal from MSCI's widely tracked equity indexes. MSCI finalized a rule on October 15 treating companies whose balance sheets are dominated by a single asset as ineligible for its Global Investable Market Indexes, effective November 30. MSCI will announce affected companies on November 11.
