Strategy sold $105 million worth of bitcoin last week, then used a chunk of the proceeds to buy back its own stock. The company repurchased $81.2 million of STRC, trimming its bitcoin stash by 1,638 coins. It also raised $290.6 million through sales of common stock.
The numbers behind the move
The sale and repurchase happened in the same week. Strategy sold bitcoin at an average price that netted $105 million. It then turned around and bought back shares, spending $81.2 million on STRC. The net effect: bitcoin holdings dropped by 1,638 coins. The stock sales brought in $290.6 million, giving the company fresh cash.
Why buy back stock now
Strategy has been known for hoarding bitcoin, not selling it. This week's move is a shift. By buying back STRC, the company is signaling it sees its own stock as undervalued relative to the market. The timing isn't great for bitcoin bulls — the sale adds selling pressure — but the stock buyback could support the share price.
Stock sales keep flowing
The $290.6 million raised through common stock sales is part of Strategy's ongoing at-the-market offering program. That cash could go toward more bitcoin purchases later, or it could be used for other corporate purposes. For now, the company is balancing its crypto holdings with shareholder returns.
Strategy hasn't said whether it plans more bitcoin sales or additional buybacks. The next quarterly filing will show the updated bitcoin count and any further stock repurchases. For now, the market is watching to see if this is a one-off or a new pattern.
