Strategy Buys 334 Bitcoin for $28.7M, Shifts Capital Toward Preferred Buybacks

Strategy Inc. acquired 334 Bitcoin for $28.7 million last week, bringing its total reserves to 848,000 BTC acquired for $63.97 billion at an average price of $75,441 per coin. The acquisition marks a sharp deceleration from previous purchases following social media teasers from Executive Chairman Michael Saylor. Instead of aggressive crypto purchases, Strategy spent $176.3 million—roughly six times more than its Bitcoin buy—to repurchase approximately 1.77 million shares of its Stretch preferred stock. With Bitcoin near $85,377, Strategy estimated a $20.91 billion third-quarter gain on its crypto holdings.