Strategy Spends $208M on STRC Buybacks While Purchasing $65M in Bitcoin
(4 hours ago) · 1 source · Summarized by CryptoBipto
Strategy, the company formerly known as MicroStrategy, spent approximately $208 million repurchasing its STRC preferred stock during the same period it bought $65 million worth of Bitcoin. The STRC buyback was roughly three times the amount the company spent on its weekly Bitcoin purchase. This marks a notable shift in capital allocation priorities for the company widely known for its aggressive Bitcoin acquisition strategy.
WHY IT MATTERS
Strategy (formerly MicroStrategy) is one of the biggest corporate Bitcoin buyers in the world, so its spending decisions get a lot of attention.
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SOURCES
- cointelegraph.com
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