TLDR:
- Strategy sold 2,051,348 MSTR shares for $283.8M between November 2 and 8 through its ATM stock program.
- STRC buybacks totaled $188.3M for the week, taking 66% of MSTR proceeds versus $81.9M spent on Bitcoin.
- Strategy purchased 1,036 BTC at an average $79,012, lifting total holdings to 850,364 BTC by November 8.
- Strategy allocated $13.6M to USD Cash, while its separate USD Reserve stood at $4.77B on November 8.
Strategy Inc. raised $283.8 million through sales of MSTR common stock between November 2 and 8, directing more than twice as much toward STRC preferred-share buybacks as Bitcoin purchases. Its November 9 filing showed that $188.3 million funded STRC repurchases, while $81.9 million paid for 1,036 BTC. The remaining $13.6 million was allocated to USD Cash.
Strategy Uses MSTR Share Sales to Fund $188.3M STRC Buybacks
The company sold 2,051,348 Class A common shares through its at-the-market offering program. Net proceeds totaled $283.8 million after sales commissions, according to its November 9 Form 8-K announcement.
Most of that money went toward repurchasing 1,887,464 shares of STRC, officially known as Variable Rate Series A Perpetual Stretch Preferred Stock. The $188.3 million outlay exceeded Bitcoin spending by $106.4 million. Approximately 66% of the proceeds funded preferred-share buybacks, compared with 29% allocated to Bitcoin.
However, Strategy reported no sales of STRF, STRC, STRK or STRD preferred securities during the period. It also made no repurchases of MSTR common stock. As of November 8, the company had $560.3 million remaining under its digital credit securities repurchase program. Its separate MSTR repurchase authorization stood at $1 billion.
Strategy Buys 1,036 BTC at $79,012 as Holdings Reach 850,364
Strategy acquired 1,036 BTC for approximately $81.9 million during the seven-day reporting period. The average purchase price was $79,012 per Bitcoin, including fees and expenses. The purchases were financed through proceeds from MSTR stock sales.
The company reported total holdings of 850,364 BTC as of November 8. Its cumulative acquisition cost reached approximately $64.16 billion, equivalent to an average purchase price of $75,456 per Bitcoin. That historical acquisition cost differs from the market value of the holdings, which fluctuates with Bitcoin prices.
Strategy Holds $4.77B in USD Reserve and $146.2M in USD Cash
Strategy also disclosed $4.77 billion in its USD Reserve and $146.2 million in USD Cash as of November 8. The reserve supports preferred-stock dividends and interest payments on outstanding debt. Meanwhile, USD Cash serves broader treasury purposes, including Bitcoin purchases and capital management.
During the reporting week, Strategy used $21.1 million from its USD Reserve to pay preferred-stock dividends. The company maintained these separate cash balances alongside its ongoing Bitcoin acquisition and preferred-share repurchase programs.
