Strategy halts Bitcoin purchases, spends $205 million on STRC buybacks

Strategy, led by Michael Saylor, spent $204.9 million to repurchase 2.07 million STRC preferred shares last week, pausing Bitcoin purchases as the cryptocurrency fell toward $80,000. The company's Bitcoin holdings remain at 848,517 BTC, acquired for $64.02 billion at an average price of $75,446 per coin. Its USD cash balance fell to $242.4 million from $447.3 million after the buyback.