₿ STRATEGY BUYS 250 MORE BTC — BUT SPENDS $192M BUYING BACK ITS OWN PREFERRED STOCK

Strategy has added another block of Bitcoin to its treasury.

Between October 5 and October 11, the company purchased:

250 BTC

for approximately:

$21.5 MILLION

Average purchase price:

$86,194 PER BTC

That brings Strategy's total Bitcoin holdings to:

848,250 BTC

The company has now spent roughly $64 billion acquiring its Bitcoin at an average price of approximately:

$75,444

But the more unusual part of this week's announcement is what Strategy did alongside the Bitcoin purchase.

The company also repurchased:

1.93 MILLION STRC SHARES

for approximately:

$192.4 MILLION

That means Strategy spent almost NINE TIMES more buying back its preferred stock than it spent buying Bitcoin this week.

The BTC purchase was funded primarily through approximately $21 million of newly sold MSTR common stock, plus $500,000 of company cash.

Important:

Strategy is no longer operating as a simple:

“raise money → buy Bitcoin”

machine.

Its capital structure now includes:

• Bitcoin purchases
• MSTR equity issuance
• Preferred shares
• Preferred-share buybacks
• Dollar reserves
• Debt and dividend obligations

Strategy still accumulated BTC.

But this week's numbers show how much more complex the Bitcoin treasury model has become.

The Bitcoin stack keeps growing.

So does the financial machinery around it.

@BitcoinNews