Strategy buys 950 BTC, shrinks STRC with $174M buyback

Strategy announced on Monday that it added another 950 Bitcoin for approximately $75.7M, or an average of $79,670 per BTC, including fees and expenses, during the week ended September 20.According to the Form 8-K filing, the purchase lifted Strategy’s total BTC holdings to 846K, acquired for $63.80B at an average cost of $75,416 per crypto token.Alongside the BTC purchase, 1.77M shares of its Series A preferred stock for $174M during the week. The company had $875.1M remaining under its preferred-stock repurchase program.Moreover, the company did not sell any MSTR shares through its at-the-market offering during the period. As of September 20, it held $5.04B in its USD Reserve and $1.05B in USD Cash, totaling roughly $6.09B.On the market side, the nearly 8% higher at ~$165.38 in the pre-market session, while the BTC price surged 5% to $85,325.Content provided by Seeking Alpha is intended for information purposes only, and that Seeking Alpha does not offer any personalist investment advice and is not a licensed securities dealer, broker, US investment adviser or investment bank.