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Strategy Expands Preferred Stock Repurchase Program to $3 Billion

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MSTR$143.48 5.48%BTCUSD$82,531.70 0.85%

Strategy Inc Class A (NASDAQ:MSTR) has raised its preferred stock buyback authorization to $3.0 billion, expanding the program from its previous $2.0 billion limit. Following the increase, the company has $1.16 billion remaining available for share repurchases. The repurchase plan was first created on June 29 with a $1.0 billion capacity to buy back digital credit securities, including STRC, STRF, STRD, and STRK, before being doubled on September 8.

Alongside the buyback expansion, Strategy reported purchasing an additional 267 bitcoins between October 12 and October 18 for $22.1 million, paying an average price of $82,900 per token. To finance the acquisition, the business sold 140,872 Class A shares, raising $22.0 million in net proceeds. As of October 18, Strategy holds a total of 848,517 BTC acquired for $64.02 billion at an average price of $75,446 per bitcoin.

Market participants will continue watching how the company executes its share buybacks alongside its ongoing bitcoin purchases. As of October 18, Strategy reported holding $4.83 billion in its USD Reserve and $447.3 million in USD Cash.

Key points

  • Strategy increased its preferred stock repurchase authorization from $2.0 billion to $3.0 billion, leaving $1.16 billion available.
  • The firm purchased 267 bitcoins for $22.1 million at an average price of $82,900 between October 12 and October 18.
  • Bitcoin purchases were funded by selling 140,872 Class A shares for $22.0 million in net proceeds.
  • Total bitcoin holdings reached 848,517 BTC bought for $64.02 billion, with $4.83 billion held in USD Reserve.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

How much did Strategy increase its stock buyback program?

Strategy increased its preferred stock buyback program to $3.0 billion from $2.0 billion, leaving $1.16 billion available for future repurchases.

How much bitcoin does Strategy hold?

As of October 18, Strategy holds 848,517 bitcoins acquired for an aggregate purchase price of $64.02 billion at an average price of $75,446 per token.

How did Strategy fund its latest bitcoin purchase?

Strategy sold 140,872 Class A shares to raise $22.0 million in net proceeds, which funded the purchase of 267 bitcoins for $22.1 million.