Strategy buys 811 Bitcoin, repurchases $208 million in STRC shares

The company funded the latest purchase through MSTR stock sales, which brought in $164 million in net proceeds. Strategy added 811 BTC to its Bitcoin treasury for $65.5 million over the week ended Nov. 1, raising its holdings to 849,327 BTC worth approximately $66 billion. The purchase was financed through MSTR stock sales, which generated $164 million in net proceeds between Oct. 26 and Nov. 1. Strategy allocated $65.5 million to Bitcoin and kept the remaining $98.5 million in USD Cash. Bitcoin dipped below $77,000 last week as the market digested the fallout from the $6.3 billion Binance hack. Despite the decline, Strategy’s holdings remain in profit, with an average cost basis of $75,446 per BTC and about $1.5 billion in unrealized gains. The company also bought back more than 2 million STRC preferred shares for about $208 million during the period, with no repurchases of its other listed preferred shares. Strategy said approximately $749 million remained available for preferred stock repurchases and $1 billion for MSTR buybacks. The USD Reserve held about $4.8 billion as of Nov. 1, while USD Cash stood at around $133 million. Disclosure: This article was edited by John Chen. Fo...