Funding
Strategy Funds Preferred Shares with $204.9M
Strategy, a company, paused Bitcoin purchases for the week ending October 25 and spent $204.9 million to repurchase preferred shares. Executive Chairman Michael Saylor announced the move on X, where Bitcoin was trading near $80,000. Strategy held 848,517 BTC without buying or selling any during the week, using its USD Cash balance to fund the repurchases. The company repurchased 2,068,459 STRC preferred shares at an average price of $99.06, below their $100 stated value. The repurchased shares had a combined stated value of about $206.85 million, which could reduce annual dividend payments by approximately $24.8 million.