✉news BusinessCrypto first seen 5 h ago, last 4 h ago, peak #13
Strategy Buys Back $192 Million of Its Preferred Stock
Original: Strategy Spends $192 Million Buying Back Its Preferred Stock, Nearly Nine Times Its Bitcoin Buy
Strategy, the bitcoin-focused company formerly known as MicroStrategy, has spent $192 million repurchasing shares of its preferred stock, an amount roughly nine times larger than what it put into buying bitcoin in the same period. The move shifts capital away from bitcoin accumulation toward supporting its preferred equity, a notable change for a firm known for aggressive bitcoin purchases.
Why now: The company is famous for hoarding bitcoin, so it spending nearly nine times more on stock buybacks than bitcoin stands out to investors.
Evidence
- Strategy Spends $192 Million Buying Back Its Preferred Stock, Nearly Nine Times Its Bitcoin Buy · Yahoo Finance
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