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Strategy Pauses Bitcoin Purchases as Strive Buys Another US$511M
- Strategy bought back US$204.9 million in STRC preferred shares during 19–25 October without purchasing additional Bitcoin.
- Strategy continues to hold 848,517 BTC worth almost US$68 billion, alongside US$5.1 billion in cash and reserves.
- The STRC buyback could reduce annual dividend obligations by roughly US$25 million, assuming the shares are retired and the dividend rate remains unchanged.
- Strive purchased 6,182 BTC for approximately US$511 million, increasing its holdings by 16.8% to 43,000 BTC and retaining fourth place among public Bitcoin treasury companies.
Saylor’s Strategy has hit the pause button again on its Bitcoin purchases while Strive loaded up on half a billion US dollars’ worth of BTC (around AU$713 million). Here’s the latest on the crypto treasury front.
Strategy confirmed that it repurchased 2,068,459 STRC preferred shares for US$204.9 million (AU$292.1 million) during 19–25 October, while buying no Bitcoin. The funds came from its available US dollar cash, rather than its separate dividend reserve. Saylor’s firm now holds 848,517 Bitcoin worth almost US$68 billion (AU$96.9 billion) at today’s prices and US$5.1 billion (AU$7.27 billion) in cash and reserves.
Strategy didn’t state why it repurchased STRC rather than buying BTC, or whether the aim was to reduce dividend obligations or market risk. The company remains by far the largest public Bitcoin holder.
STRC is Strategy’s variable-rate preferred stock, which pays investors monthly dividends. Buying back these shares could reduce the company’s future dividend obligations. At an annual dividend rate of 12%, the latest repurchases could save roughly US$25 million (AU$35.6 million) a year, assuming the shares are retired and the rate remains unchanged.
Read also: JPMorgan Warns US Crypto Regulatory Gains Could Be Reversed After 2028 Election
BitcoinTreasuries.Net now tracks more than 200 public companies with a Bitcoin treasury. Together they hold 1.29 million BTC, worth over US$100 billion (AU$142.6 billion).
Strive Strikes Again
Meanwhile, the fourth-largest BTC treasury firm, Strive, has increased its holdings to 43,000 Bitcoin, ranking just behind Twenty One Capital with 43,514 coins. Metaplanet remains in second spot with 44,000 BTC, right behind Strategy.
Strive’s 8-K filing revealed the purchase of 6,182 Bitcoin between 17 and 23 October at an average cost of US$82,732 (AU$117,938) per coin, meaning it spent around US$511 million (AU$728.4 million) on this round of purchases. That represents a 16.8% increase in its Bitcoin holdings in just one week, up from 36,818 BTC.
Interestingly, Strive also holds 505,000 shares of Strategy’s STRC preferred stock, valued at approximately US$50.2 million (AU$71.6 million). The company reported US$504.4 million (AU$719 million) in cash and cash equivalents as of 23 October, up from US$317.5 million (AU$452.6 million) a week earlier.
Read more: Bitcoin Drops Below US$80K as Arthur Hayes Exits Crypto Trades
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Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
