Strategy Buys Just 250 Bitcoin While Spending Far More On Preferred Stock Buybacks

Strategy bought 250 Bitcoin for $21.5 million between Monday and Sunday. Its holdings now stand at 848,250 BTC. It is the second straight week of smaller purchases, down from 334 BTC the week before. The company paid for $21 million of the purchase by selling common stock. It covered the remaining $500,000 with cash. At the same time, it spent $192.4 million buying back its STRC preferred stock, up from $176.3 million a week earlier. That buyback spending was nearly nine times the Bitcoin budget. The company holds a $4.88 billion US Reserve to cover preferred dividends and debt interest.