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Strategy spends $176.3 million on STRC buybacks, buys $28.7M BTC

The company bought 334 BTC for $28.7 million while repurchasing about 1.77 million STRC preferred shares for $176.3 million, according to its SEC filing.

Reported · Written up by our desk · Market Structure

Strategy last week allocated more capital to repurchasing its STRC preferred stock than to buying Bitcoin, according to a US Securities and Exchange Commission filing cited by Cointelegraph.

Cointelegraph reports that Strategy bought 334 Bitcoin for $28.7 million between Monday and Sunday, bringing its holdings to exactly 848,000 BTC.

Over the same period, the company spent $176.3 million to repurchase about 1.77 million shares of its STRC preferred stock.

The article notes the capital allocation comes as Strategy said it will seek shareholder approval to overhaul dividend payments.

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