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Strategy spent more than twice as much on preferred buybacks as Bitcoin last week

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Strategy spent more than twice as much on preferred buybacks as Bitcoin last week

The November 9 filing shows common-stock proceeds funding Bitcoin purchases and a larger STRC buyback during November 2-8.

Bitcoin treasury company Strategy funded its Bitcoin purchases and a larger STRC preferred-stock buyback with common-stock sales during Nov. 2-8, while recording no sales through its four preferred-stock at-the-market programs, according to its Nov. 9 filing.

The company raised $284 million in net proceeds by selling 2,051,348 MSTR common shares. It directed $188 million to STRC repurchases, $82 million to Bitcoin and $14 million to its USD Cash balance.

Common shareholders financed both more Bitcoin and fewer preferred shares outstanding. The repurchases can reduce future preferred-dividend requirements, while issuing MSTR increases the number of common shares. STRC's prospective return as a funding source had yet to produce disclosed sales during that week.

During Nov. 2-8, 2026, common-stock proceeds funded a larger STRC buyback than Bitcoin purchase.

STRC repurchases absorbed 66.3% of MSTR net proceeds; Bitcoin purchases used 28.9%.

Covers the disclosed November 2-8 ATM programs only. USD Cash allocation is a flow, not the closing cash balance. The graphic does not determine the transaction's net effect per common share.

Reported dollar amounts are USD millions. Derived shares of $283.8m: 188.3/283.8=66.3495%, 81.9/283.8=28.8584%, 13.6/283.8=4.7921%, rounded to one decimal. Ribbon thickness and mobile bars use these ratios. Share counts and BTC are reported, not derived.

Covers the disclosed November 2-8 ATM programs only. USD Cash allocation is a flow, not the closing cash balance. The graphic does not determine the transaction's net effect per common share.


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