Strategy Uses $283.8 Million Stock Sale to Fund BTC, STRC Buyback

Strategy sold $283.8 million of MSTR shares to finance an $188.3 million repurchase of STRC preferred shares and a purchase of 1,036 Bitcoin (BTC), with the buyback accounting for most of the outlay.

Strategy spent $81.9 million on BTC, less than half the $188.3 million allocated to the STRC buyback. The repurchase was about 2.3 times the Bitcoin purchase, a difference of $106.4 million. The sale of MSTR shares provided proceeds for the two transactions, whose combined total was $270.2 million. The stock sale exceeded the two purchases' combined $270.2 million cost by $13.6 million.

Since October, Strategy has repurchased about $1.06 billion in STRC, nearly five times its Bitcoin purchases over the same period. The company's Bitcoin holdings stood at 850,400 BTC, including its latest purchase of 1,036 BTC.

MSCI is due to publish on Nov. 12 a list of companies facing possible index exclusion, two days after the report.