Strategy Maintains Bitcoin Holdings as It Focuses on Preferred Stock Repurchases
MSTR, known for its serial cryptocurrency acquisitions, has kept its Bitcoin holdings unchanged at 845,050 BTC over the past week. The company instead focused on repurchasing preferred shares (NASDAQ: $STRC), acquiring 1.42 million shares worth $139.3 million U.S., funded from its cash reserves. As of September 14, Strategy's cash reserve balance stood at $6.4 billion U.S. The company’s Bitcoin holdings are valued at approximately $65.7 billion and represent about 4% of the total supply of 21 million BTC tokens. This position implies a paper gain of around $2 billion for MSTR. Strategy's chairman, Michael Saylor, has not updated his usual Bitcoin tracker in recent weeks or commented on financial activities. The company’s preferred stock offers a monthly dividend yielding 12%, and its cash reserve strategy aims to support the share price.
Topics: Bitcoin cash reserves corporate strategy stock repurchase