The Bitcoin Treasury Strategy waited to buy bitcoins again in the last week. Instead, the Nasdaq listed company bought $139,000,000 of STRC preferred stock.
The Monday filing Securities and Exchange Commission showed on Monday that between the 8th and the 13th of September, the company had repurchased STRC preferred stock for $139.3 Million.
The company has 845,050 Bitcoins, worth $66.2 Billion at current prices. It also holds USD Reserve ($5.1 Billion) and USD Cash ($1.3Billion), which are both cash accounts.
Strategy, which holds the majority of corporate bitcoins, switched this year from purchasing the biggest crypto this week, to buying its stock back and building a large cash reserve.
On some occasions, the company even sold small bits of its BTC stash — despite founder and chairman Michael Saylor famously preaching to “never sell your bitcoin.”
The company began buying bitcoin in August’s final week after a hiatus of 10 weeks. It has now amassed nearly $370 millions in this leading cryptocurrency.
The company hasn’t purchased bitcoins since.
On Monday, its Nasdaq listed shares (MSTR), were trading 3% higher. The stock has lost over 75% of its value since notching a record in November 2024 — one month before bitcoin passed the once mythical and long-awaited $100,000 mark.
Strategy — formerly MicroStrategy — is an enterprise software company that pivoted to buying and holding bitcoin in 2020.
The company initially bought bitcoins to shield its investors from inflation, but it has aggressively purchased the asset since then and pivoted into being a Bitcoin treasury.
Phong Le, the CEO at Strategy, has explained its bitcoin purchases. saying Now that the firm has acquired a “bullet-proof balance sheet.”
The company reported its quarterly results for July. posted a $8.22 billion loss. Le assured investors, however, that the current loss on paper was not a cause for concern.
“We’re the J.P. Morgan of the crypto economy, so whether we sell 1,000 bitcoin out of 840,000 to me is irrelevant to the conversation,” Le told me in a later interview.
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Source: bitcoinmagazine.com
