Update
Strategy Repurchases Bitcoin and Preferred Stock
Strategy, the world's largest publicly traded corporate Bitcoin holder, repurchased 267 Bitcoin for $22.1 million and 1.94 million shares of its Stretch (STRC) preferred stock for $193.1 million. The company also increased its digital credit securities buyback authorization to $3 billion from $2 billion. These transactions extend a trend of management spending more on preferred stock repurchases than Bitcoin purchases, even as CEO Michael Saylor expects a return to a Bitcoin bull market.