Strategy repurchased $208.2 million of its STRC shares between Oct. 26 and Nov. 1, more than three times what it spent on Bitcoin during the same period, according to its Nov. 2 filing.
The filing also disclosed the purchase of 811 BTC for $65.5 million. The moves extend Strategy’s effort to support its dividend-paying shares while continuing to add Bitcoin.
STRC trades near $100
STRC traded at $99.91 at the time of writing, up 0.79% from its prior close, and reached $99.94 during the session. That left it nine cents below Strategy’s $100 target.
The share price had fallen below resistance in June and has bounced since, repeatedly approaching $100 in recent weeks.
Strategy said in its Oct. 29 results announcement that it intends to continue paying STRC an annual rate of 12%. Dividends began being paid daily from Nov. 1.
Buyback details and funding
Strategy repurchased approximately 2.09 million STRC shares using its general-purpose “USD Cash” balance. The company said the repurchase would reduce future payment obligations because the shares pay dividends. It had $748.6 million remaining under its preferred-share repurchase authorization.
Separately, Strategy raised $164 million by selling approximately 1.18 million new MSTR common shares. Of those proceeds, $65.5 million funded Bitcoin purchases and $98.5 million went into USD Cash.
Bitcoin holdings and cash
The 811 BTC purchase brought Strategy’s Bitcoin holdings to 849,327 BTC. The company paid an average of $80,846 per Bitcoin for the latest additions, including fees and expenses.
Strategy also used $43.4 million from its separate USD Reserve to pay preferred-stock dividends during the week. As of Nov. 1, the holdings supporting dividends and debt interest totaled $4.79 billion, while its general-purpose USD Cash balance stood at $132.7 million.
