Strategy neither bought nor sold Bitcoin in the week ended October 25, ending a five-week run of purchases. It instead spent $204.9 million of cash repurchasing its STRC preferred stock.
Strategy bought no Bitcoin in the week ended October 25, leaving its holdings at 848,517 BTC. The company also sold no shares through its at-the-market programme, according to its October 26 Form 8-K.
Pause follows five weeks of purchases
The pause ended a five-week run of Bitcoin acquisitions, according to The Block. Strategy's holdings were acquired for $64.02 billion at an average cost of about $75,446 per bitcoin, according to the filing.
The disclosure offers no explanation for the pause. It records the unchanged holdings and the preferred-stock repurchase, not the timing or outlook for future Bitcoin purchases.
Cash funds the STRC buyback
Strategy repurchased 2,068,459 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, which trades under the ticker STRC, for $204.9 million. The company named its USD Cash balance as the source of the funds.
That balance stood at $242.4 million as of October 25 after the repurchases. It is separate from Strategy's USD Reserve, which the filing put at $4.83 billion on the same date.
Afterward, $956.8 million remained under the preferred-stock repurchase authorisation, The Block reported. Neither the filing nor the report sets out a schedule for using it.
STRC is first in line for buybacks
Strategy's June 29 capital framework made STRC the first repurchase priority if management determines that a buyback is accretive. The company said the potential benefits included lower expected preferred-dividend payments and stronger credit quality.
The $204.9 million repurchase, made while Bitcoin holdings stayed unchanged, put that priority into practice.
Sources: Crypto Daily, Strategy Form 8-K, The Block
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