Strategy Spends $369 Million to Repurchase STRC, Stock Price Nears $100

On October 13, according to Bitcoin.com, bitcoin treasury company Strategy repurchased a total of 3,705,947 shares of STRC preferred stock over the two-week period from September 28 to October 11, spending approximately $368.7 million at an average price of about $99.47. During the same period, it purchased only 584 BTC (worth approximately $50.2 million), resulting in a funding ratio of roughly 7:1 between STRC repurchases and BTC purchases. Driven by this, STRC closed at $99.88 on October 12, marking a new high since May, and rebounding cumulatively by approximately 40% from its June low of $71.25.