Strategy skips Bitcoin purchases, spends $205M on STRC buybacks

What happened: Strategy made no Bitcoin purchases or sales last week and instead spent $204.9 million repurchasing 2.07 million STRC preferred shares between Monday and Friday, per its SEC filing. Key numbers: USD Cash balance fell about 46% to $242.4 million from $447.3 million. Why it matters: The pause came as Bitcoin fell toward $80,000 last week after reaching $84,777 on Wednesday. The buybacks reduced the company's USD Cash balance while its USD reserve stayed unchanged at $4.83 billion. Coverage: 3 outlets in 24h

Strategy made no Bitcoin purchases or sales last week and instead spent $204.9 million repurchasing 2.07 million STRC preferred shares between Monday and Friday, per its SEC filing.

The pause came as Bitcoin fell toward $80,000 last week after reaching $84,777 on Wednesday. The buybacks reduced the company's USD Cash balance while its USD reserve stayed unchanged at $4.83 billion.