Strategy Skips Bitcoin for a Week as Strive Buys $511 Million

Strategy bought no bitcoin from Oct. 19 to Oct. 25. It spent $204.9 million buying back 2,068,459 shares of its STRC preferred stock instead, according to an SEC filing on Monday.

Strive went the other way. It bought 6,182 BTC for about $511 million between Oct. 17 and Oct. 23, its own filing shows.

Strategy's stack sits about 6.6% above cost

Strategy holds roughly 848,517 bitcoin, bought for $64.02 billion at an average of about $75,446 each. Bitcoin traded near $80,400 at 11:57 a.m. ET Monday, per CoinGecko. The filing also shows no common stock sold through its at-the-market program, a plan for selling new shares into the market.

STRC is a variable-rate perpetual preferred share, so every share retired is one Strategy no longer pays dividends on. The buyback came out of "USD Cash," which fell to $242.4 million. A separate $4.83 billion reserve is set aside for dividends and debt interest. The filing doesn't say why Strategy paused its bitcoin buying.

Strive paid more than today's price

Strive's average price was about $82,732, roughly 2.8% above Monday's level. The purchases lifted its holdings from 36,818 to 43,000 BTC, while cash rose to $504.4 million. Strive also holds 505,000 STRC shares, valued at $50.2 million on Oct. 23.

In our opinion: the number worth circling this week is zero, Strategy's bitcoin purchases. Strive, meanwhile, owns 505,000 of the very STRC shares Strategy was busy buying back.