Strategy spends $888M on preferred buybacks – Is Bitcoin taking back seat?

Strategy has prioritized bolstering its capital base rather than accelerating the purchase of Bitcoin [BTC], using approximately three times more for preferred stock repurchases. From the 14th of September to the 18th of October, Strategy purchased nearly $888 million worth of its own preferred stock. During that same time frame, it acquired an additional 3,466 Bitcoins at a cost of approximately $290 million. Although Strategy may be able to reduce future obligations related to dividends, the reduced rate of growth in Treasury holdings is likely to continue.

Source: AMBCrypto