Strategy repurchases $208.2 million in STRC shares, triples recent Bitcoin spend

Strategy, a prominent Bitcoin-focused corporate treasury and investment firm led by Michael Saylor, spent $208.2 million repurchasing its STRC preferred shares last week, a figure more than three times its Bitcoin investment for the same period. According to a Monday 8-K filing with the Securities and Exchange Commission, Strategy allocated $65.5 million to purchase 811 Bitcoin at an average price of $80,846 per coin. In contrast, the company spent heavily on its STRC preferred share buyback program, marking a substantial prioritization of STRC over further Bitcoin accumulation during the week.

Source: CoinTurk News