Strategy Buys 250 BTC but Spends Nine Times More on STRC Buybacks

Strategy, the world’s largest corporate holder of Bitcoin (BTC), announced on October 12 that it purchased 250 BTC between October 5 and 11, marking its fourth consecutive week of acquisitions. In the same week, the company spent $192.4 million repurchasing its own STRC preferred shares, roughly nine times more than it spent on bitcoin. Strategy Details Bitcoin Purchase and STRC Repurchase Strategy spent approximately $21.5 million, including fees and other expenses, on the latest purchase, at an average of $86,194 per bitcoin. Continue reading at DailyCoin.

Source: DailyCoin