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Key Insights:
- Strategy repurchases STRC despite last week’s brief rise to $100
- The Saylor-led firm also purchased 1036 Bitcoin last week.
- Still, MSTR is down 3% on the day amidst sales and Bitcoin struggles.
Bitcoin Treasury Company Strategy has bought back more of its preferred shares, STRC, in the past week. The firm disclosed in a recent filing that it repurchased over 1.8 million STRC shares between November 2 and 8.
The company funded the purchase with $188.3 million from its USD Reserve. With the move, Strategy has now repurchased over $2 billion of STRC since July 2026, when the preferred stock crashed to around $75.
Since then, the firm has been on an aggressive buyback spree, focusing on defending the STRC peg. So far, that has worked, with the stock trading at $99.94. Strategy still has $560.3 million left for the STRC repurchase program.
Strategy Buys over 1,000 BTC As Bitcoin Drops Below $75,000
Meanwhile, the company also bought more BTC in the past week to increase its stash. It acquired 1,036 BTC for $81.9 million, translating into an average price of $79,012 including transaction costs.
It funded the BTC purchase with proceeds from the sale of its common stock, MSTR. Strategy sold $283.8 million in MSTR shares this week and stated that it still has up to $18 billion in MSTR shares to issue under its ATM program.
With Strategy now holding 850,364 BTC, the firm currently has its largest share of Bitcoin holdings. It has been buying up BTC since August after taking a 10-week break.
Interestingly, Strategy Bitcoin is now sitting below the basis cost. The fund spent $64.2 billion to acquire the BTC, which meant an average price of $75,456 per BTC.
However, the recent decline has brought Bitcoin below $75,000, as the flagship asset continues to struggle. This is not the first time that Strategy will be sitting on unrealized losses from its Bitcoin holdings.
MSTR Down 3% as Bitcoin Struggles
Meanwhile, the common stock fueling Strategy’s Bitcoin purchases and cash reserves is down today. MSTR fell almost 3% in today’s trading to $125.37.
The stock has struggled to see any major lift in recent months, with an 18% decline over the past 30 days and a 33% loss over the past 6 months. Interestingly, it is only down about 3% year-to-date.
This makes MSTR even a better performer than the asset it tracks. Bitcoin is down almost 16% this year, with recent performance stalling its recovery.
The flagship asset has now lost its seven weeks of trading above its 50-week moving average after briefly falling below $74,000. Although it has slightly recovered from its daily low of $73,664 on CoinMarketCap, there are no signs of recovery.
Liquidations continue to pile on, with multiple days of over $1 billion in liquidated positions over the past week. Demand from traditional investors has now dropped, with the US spot Bitcoin ETF seeing $1.2 billion in net outflows last week, the highest since June.
This article provides financial information, not investment advice. Stocks and cryptocurrencies carry market and liquidity risks. Readers should conduct independent research and consult qualified financial professionals before making investment decisions.
