Strategy bought another 1,036 BTC for $81.9 million last week, lifting its total holdings to 850,364 coins. According to the company's SEC filing, cited by Cointelegraph, it also spent $188.3 million buying back its own STRC preferred shares. Both moves were paid for by selling common MSTR stock.
What the filing shows
The purchase was relatively small. The 1,036 coins cost under $82 million, a routine weekly size for Strategy. The key number is elsewhere: after the top-up, the balance sheet holds 850,364 bitcoin.
The rest of the cash went to the buyback. Decrypt reports $188 million spent on STRC, more than double what went into bitcoin. The money came from $284 million of MSTR shares sold.
Where the money came from
The scheme is simple. Strategy issues shares, sells them on the market and uses the proceeds to buy bitcoin or to repurchase debt and preferred paper. This week both directions were funded from a single source.
STRC is a preferred stock that pays holders a dividend. Buying it back cuts future payouts, but it also takes cash that could have gone into bitcoin. The filing does not say how much STRC remains outstanding.
Where this sits on the timeline
The report came a few days before index provider MSCI is due to name companies facing removal from its indexes. Under the new MSCI rules Strategy could be among them, which we have covered before.
The bitcoin market is weak right now. The Block reports that the price lost its 50-week moving average, and 24-hour long liquidations topped $1 billion.
What comes next
The next weekly filing will show whether the split between BTC purchases and STRC buybacks holds. The MSCI decision, expected within days, could shift both.
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