From Cointelegraph · By Helen Partz
Strategy bought 250 Bitcoin for $21.5 million last week, marking a second consecutive weekly decline in purchases as its Bitcoin holdings reached 848,250 BTC.
The company funded $21 million of the purchases through sales of its common stock and the remaining $500,000 with existing cash between Monday and Sunday, according to an announcement published on Strategy’s website.
Strategy also continued repurchasing shares of its STRC preferred stock, spending $192.4 million during the week, up from $176.3 million the previous week.
The company’s Nasdaq-traded common stock, MSTR, was up less than 1% ahead of Monday’s market opening, according to Yahoo Finance. The preferred stock was poised to open at $99.68 a share.
The company said it maintains a $4.88 billion US Reserve to support preferred stock dividends and debt interest payments. Its separate USD Cash balance stood at $640.5 million as of Sunday.
The purchase followed a Sunday post by founder and executive chair Michael Saylor, who signaled another Bitcoin purchase with the message, “There’s always room for more orange.” Strategy typically reports its Bitcoin purchases in filings with the US Securities and Exchange Commission, which is closed Monday for the Columbus Day holiday.
Strategy’s Bitcoin accumulation has slowed in recent months. Its holdings grew just 0.2% during the third quarter, as the company acquired 7,218 BTC while selling 5,553 BTC.
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