Strategy Lifts Preferred Securities Repurchase Authorization to $3 Billion

Strategy Inc. raised its preferred securities repurchase authorization to $3 billion and bought more Bitcoin (BTC), while its shares partly recovered from Friday’s steep decline in Monday premarket trading. The board increased the authorization from $2 billion. The cap covers preferred securities and is separate from Strategy’s common stock repurchase program, which had $1 billion remaining. As of Oct. 18, $1.16 billion remained available under the preferred securities authorization. During the week of Oct. 12-18, Strategy repurchased 1,938,780 STRC preferred shares for $193.1 million. It did not repurchase MSTR common shares during that period.

Source: TokenPost