Strategy (formerly MicroStrategy) bought 250 Bitcoin for $21.5 million last week while spending $192.4 million to repurchase its STRC preferred shares.

On Oct. 12, the Michael Saylor-founded company disclosed that it acquired just 250 Bitcoin for about $21.5 million between Oct. 5 and Oct. 11, extending a slowdown that saw purchases fall to 334 BTC the previous week.

Meanwhile, Strategy repurchased 1,932,145 shares of its variable-rate STRC preferred stock for $192.4 million, nearly nine times its Bitcoin spending, as the company continued its STRC buybacks.

The spending gap highlights the competing demands on Strategy's capital: Bitcoin accumulation and support for its preferred securities.

The latest acquisition lifted Strategy's holdings to 848,250 BTC, purchased for approximately $64 billion at an average price of $75,444 per coin.

Strategy paid an average of roughly $86,194 for its latest Bitcoin purchases, compared with $85,839 for the 334 BTC acquired during the previous reporting period.

The slowdown comes as Bitcoin struggles to sustain its recovery after last week's market downturn briefly pushed the cryptocurrency toward $80,000.

STRC repurchase spending rose from $176.3 million during Sept. 28–Oct. 4 to $192.4 million during Oct. 5–11.

The company reported $354.8 million of remaining authorization under its digital credit securities repurchase program.

The purchases have also become more expensive as STRC approaches its $100 stated amount.

Strategy paid an implied average price of approximately $99.58 per share in its latest buyback, representing a discount of less than 0.5% to the preferred stock's stated value.

That is notable because the company's July repurchase policy envisaged buying more aggressively at deeper discounts and reducing purchases as STRC approached $100.

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