Strategy breaks four-week Bitcoin buying run as BTC slips
John M. Chase
Bitcoin (BTC-USD) fell nearly 2% over the past week to around $80K, while Strategy (MSTR) paused its weekly Bitcoin purchases after four consecutive weeks of buying.
The slowdown came as the company increasingly directed capital toward preferred-share repurchases, while other cryptocurrencies declined.
Strategy (MSTR) bought 1,665 BTC for $142.7M in the week ended September 27, followed by smaller purchases over the next three weeks before pausing acquisitions in the week ended October 25.
It last reported holding 848.52K BTC, acquired for approximately $64B. Over the preceding three weeks, the company spent nearly $562M repurchasing preferred shares, compared with $72.3M on Bitcoin.
Meanwhile, Strive (ASST) purchased another 6.18K BTC between October 17 and 23 at an average price of about $82.73K, bringing its total holdings to 43K BTC.
It also established an at-the-market program to sell up to $1B in perpetual preferred stock, with proceeds potentially supporting additional Bitcoin purchases, working capital, income-generating investments, and share repurchases.
On the market side, Bitcoin traded around $80K on Monday, down nearly 5% over the month. Ethereum (ETH-USD) fell 3% over the week, while Solana (SOL-USD) declined 2.19%.
Moreover, Strategy stock traded ~2% lower to `$143.38 in the premarket session.
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