Strategy bought another 250 Bitcoin for $21.5 million during October 5–11, according to its latest update. It also spent $192.4 million repurchasing STRC preferred shares, while MSTR stock traded near $151 on October 12.
The transactions indicate how the company split its spending between Bitcoin acquisition and share buybacks. However, for investors of MSTR, this actually does make a difference because the company repurchases preferred stocks while Strategy issues common stock.
The larger purchase was STRC
Strategy bought back an estimated 1.93 million STRC shares, dedicating almost nine times more funds compared to its Bitcoin acquisitions that week. It disclosed no MSTR common-share repurchases during this period.
STRC is a separate class of stock with its own dividend terms. Buying it back does not directly reduce the number of MSTR common shares.
Strategy sold 125,183 MSTR shares for $21 million [after commissions]. This covered the cost of the Bitcoins. The remaining $500,000 came from the cash holdings. The common share will increase the supply/demand ratio and affect existing shareholders.
The additional Bitcoin brought Strategy’s holdings to 848,250 BTC. Its total acquisition cost stood at about $64 billion, averaging $75,444 per coin, including fees and expenses.
MSTR approaches a nearby support area
At the time of this writing, MSTR traded at around $151.07, down 2.12% from its previous close.
It had reached $158.40 earlier but was trading close to its $150.88 session low. That drop in price follows a broader pullback from its recent highs around the $170 price area.
The immediate area to watch is the $147–$150 price area, where recent candles have found support. Holding there would allow for it to stabilize.
A move back above the $158–$160 price areas would improve the short-term picture, but the recent highs around the $166–$170 price area remain another hurdle.
If MSTR falls below nearby support and fails to recover, attention could shift toward the $134–$138 price zones.
For now, the chart shows that the recent recovery is losing strength.
Final Summary
- Strategy bought 250 BTC and repurchased STRC preferred shares.
- MSTR approached $150 support. If it recovers the $158–$160 price areas, it would strengthen its short-term outlook.