Strive now trails Metaplanet by just 1,000 BTC after its latest record purchase, while Strategy prioritizes preferred-stock buybacks.

Bitcoin treasury firms Strategy and Strive made record purchases last week, but directed their capital toward different assets.

While Michael Saylor's Strategy intensified its preferred-stock buybacks, Strive accelerated its Bitcoin accumulation, highlighting diverging priorities in how the companies deploy capital.

Strategy's Bitcoin buying streak ended after five consecutive weeks as the company stepped up efforts to support its STRC high-yield preferred stock.

The Saylor-led firm acquired no Bitcoin between Oct. 19 and Oct. 25, its first weekly pause since mid-September. It also raised no fresh capital through its at-the-market equity program, leaving its holdings unchanged at 848,517 BTC, purchased for approximately $64.02 billion.

Instead, the company spent a record $204.9 million to retire 2.07 million shares of its STRC preferred stock, extending a buyback campaign that has now spent more than $2 billion since July.

Bitcoin analyst Ragnar estimated that Strategy accounted for 28% of STRC trading volume in the latest week, showing how much the company's own purchases have contributed to demand for the security.

The scale of the purchases is particularly notable because STRC has recovered much of the ground lost during Bitcoin's June selloff, when the security briefly traded near $71, well below its $100 stated value.

Strategy initially sought to exploit that discount, buying back shares at prices that reduced its outstanding preferred capital and future dividend obligations. The firm publicly maintained that it would become less aggressive as the security approached $100.

Source link