Strategy skips Bitcoin, spends $205M on STRC buybacks

Strategy, led by founder and executive chairman Michael Saylor, bought no Bitcoin between October 19 and 25 and instead used $204.9 million to repurchase 2,068,459 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, or STRC, according to an October 26 SEC filing. Its Bitcoin holdings remained at 848,517 BTC, the second time this month it skipped purchases. The buyback came under a program the board raised to $3 billion on October 19, leaving $956.8 million available. Strategy funded it from a general-purpose cash account that fell to $242.4 million.