Strategy buys $22M in Bitcoin, repurchases $193M in STRC

What happened: Strategy bought 267 Bitcoin for $22.1 million and repurchased 1.94 million STRC preferred shares for $193.1 million. Its board raised the digital credit securities buyback authorization to $3 billion from $2 billion. Key numbers: 267 BTC bought at an average price of $82,900 between Oct. 12 and Oct. 16. Why it matters: The company spent nearly nine times as much on STRC repurchases as on Bitcoin, and the larger buyback authorization expands that program. MSTR shares moved higher in premarket trading ahead of Monday's Nasdaq open. Coverage: 3 outlets in 24h

Strategy bought 267 Bitcoin for $22.1 million and repurchased 1.94 million STRC preferred shares for $193.1 million. Its board raised the digital credit securities buyback authorization to $3 billion from $2 billion.

The company spent nearly nine times as much on STRC repurchases as on Bitcoin, and the larger buyback authorization expands that program. MSTR shares moved higher in premarket trading ahead of Monday's Nasdaq open.