Strategy spends more on share buybacks than on bitcoin purchases

Strategy acquired an additional 950 bitcoins as part of its investment strategy. The deal was executed for $75.7 million at an average price of $79,670 per coin.

The company's portfolio now stands at exactly 846,000 BTC. Total spending on purchases amounted to $63.8 billion at an average entry price of $75,416. The company also holds $6.09 billion in dollar reserves.

A significant portion of funds is directed toward the buyback of its own preferred STRC shares. Over the past week, the company spent $174 million on this goal, more than double the amount spent on bitcoin.

STRC are perpetual preferred shares with a floating dividend and a par value of $100. Buying back such securities below par allows the company to reduce future dividend payment obligations.

The bias towards funding its own structure has been evident for several weeks. From July 20 to September 13, $950.8 million was spent on buying back STRC, compared to $369.7 million spent on bitcoin.

During the summer, the company even sold bitcoins to cover expenses. It liquidated 1,638 and 1,690 coins to pay dividends and repurchase the same STRC shares.

In September, the limit on buying back its own shares was raised to $2 billion. This indicates a priority of maintaining its financial structure over actively accumulating cryptocurrency.