# Strategy Spent More on Shares Than Bitcoin Last Week

> Strategy repurchased $188.3m of preferred stock instead of Bitcoin after spending $81.9m on crypto.
- Title: Strategy Spent More on Shares Than Bitcoin Last Week
- Summary: Strategy repurchased $188.3m of preferred stock instead of Bitcoin after spending $81.9m on crypto. Strategy Inc.
- Keywords: strategy, mstr, preferred stock, bitcoin, crypto, buyback, mstr stock, mstr price, mstr shares, mstr trading, mstr dividend, mstr preferred stock
- Source: 24/7 Wall St. — https://247wallst.com/investing/cryptocurrency/2026/11/09/strategy-spent-more-on-its-own-shares-than-on-bitcoin-last-week-why-is-saylor-buying-back-stock-instead-of-btc
- Author: Sam Daodu
- Published: 2026-11-09T17:47:22+00:00
- Read time: 1 min
- Topics: strategy, mstr, preferred stock, bitcoin, crypto, buyback, mstr stock, mstr price, mstr shares, mstr trading, mstr dividend, mstr preferred stock
## Strategy's Stock Buyback Details
Strategy Inc. spent $188.3 million repurchasing preferred stock from November 2 to 8, 2026, more than double its $81.9 million Bitcoin investment.
## Bitcoin Purchase Details
Strategy bought 1,036 BTC at an average of $79,012 per coin, with Bitcoin trading at $75,034 and down 1.2% over 24 hours.
## Preferred Stock STRC
STRC is a perpetual preferred stock with a $100 stated value, paying a 12% annual dividend that Strategy switched to daily payments on November 1.
## STRC Trading Performance
STRC trades just below $100 and has gained 1.1% over the past month, with Strategy cutting its dividend obligation through buybacks.
## Dividend and Buyback Strategy
Strategy can lower its dividend rate by no more than 25 basis points monthly, using buybacks to push STRC toward $100 to reopen preferred stock funding for Bitcoin.
## Bitcoin Holdings and Losses
Strategy holds 850,364 BTC worth $64.16 billion, with an unrealized loss of around $1 billion on Bitcoin as of November 8.
## MSCI Index Risk
Strategy could be dropped from the MSCI index starting November 30 if the November 11 decision is made, risking its ability to raise funds for Bitcoin purchases.
## Bitcoin Price Impact
Strategy's buybacks only benefit Bitcoin holders if it reopens preferred stock funding, which requires STRC to hold $100 after the MSCI decision.
## Current Financial Position
Strategy has $4.77 billion in reserves and $146.2 million in cash, with $21.1 million paid in preferred dividends from the reserve.
## Why Buy Back Stock Instead?
Strategy's buybacks help steady STRC price and cut dividend obligations, while Bitcoin trades below Strategy's average purchase price of $75,456.
## Key takeaway

Strategy Inc. spent $188.3 million repurchasing preferred stock instead of Bitcoin last week, with its average Bitcoin purchase price at $75,456.