Strategy buys another $22 million of Bitcoin, increases planned share buybacks
Source: Fortune ·
The purchase marks its sixth since August, extending a buying streak after Bitcoin sales earlier this year.
From the source
Strategy bought the Bitcoin dip—again. The digital asset treasury giant disclosed Monday that it added more than $22 million worth of the cryptocurrency last week, as prices swung between roughly $80,000 and $84,000. The latest purchase added 267 Bitcoin to Strategy’s total holdings, which are currently worth around $64 billion. The company also spent roughly $193 million buying back shares of STRC, one of its preferred stocks, which pays investors regular dividends. Its board also approved an additional $1 billion for preferred-share buybacks, bringing the total authorization to $3 billion. Strategy’s latest acquisition comes a week after its previous purchase of $21 million worth of Bitcoin. Since August, the company has bought Bitcoin on six separate occasions, renewing its aggressive buying streak. Its latest purchase comes amid sharp swings in Bitcoin’s price that briefly threatened to erase its gains over the past two months. In August, the cryptocurrency snapped its losing…