MSTR plunged more than 11% last week, while preferred shares slipped below $98 despite sustained buybacks and bullish analyst price targets.

Strategy's discretionary USD Cash fell to $447.3 million as the company spent another $193.1 million on STRC buybacks and raised its preferred-stock repurchase authorization to $3 billion.

The Michael Saylor-led company disclosed on Oct. 19 that it bought Bitcoin for $22.1 million at an average price of $82,900 over the previous week. The acquisitions increased its holdings to 848,517 BTC, accumulated for approximately $64.02 billion.

During the same period, Strategy spent another $193.1 million repurchasing nearly 1.94 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), extending an aggressive campaign to support the security's trading price near its $100 stated value.

The firm's discretionary USD Cash holdings declined about 72% to $447.3 million as of Oct. 18, down from $1.61 billion on Aug. 30. The latest weekly decline of $193.2 million comprised $193.1 million in STRC repurchases and $100,000 in Bitcoin purchases.

Strategy financed $22 million of its latest Bitcoin acquisitions through the sale of 140,872 common shares, using just $100,000 of USD Cash for the remainder.

Meanwhile, its separate USD Reserve, designated primarily for dividend and debt-interest payments, stood at $4.83 billion after the company withdrew $45.5 million for preferred-stock dividends.

Strategy's board increased its digital credit securities repurchase authorization by 50% to $3 billion from $2 billion, leaving approximately $1.16 billion available for additional purchases.

84 billion to buy back STRC since it began repurchases in July.

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