CryptoSlate
Strategy spent a record $204.9 million repurchasing 2.07 million STRC preferred shares from Oct. 19 to Oct. 25, while Strive bought 6,182 BTC for approximately $511.4 million. Strategy’s Bitcoin holdings stayed unchanged at 848,517 BTC after its five-week buying streak ended, while Strive’s holdings reached 43,000 BTC.
Why it matters
The two corporate Bitcoin treasury firms are taking sharply different approaches to capital deployment. Strategy has now spent more than $2 billion on STRC buybacks since July, with its latest purchases accounting for an estimated 28% of weekly STRC trading volume. The company’s unrestricted USD cash balance fell to $242.4 million from $1.6 billion during the latest reporting week, an 84.8% decline.
Strategy still has $956.8 million in repurchase capacity after expanding its authorization to $3 billion, while a separate $4.83 billion reserve for preferred dividends and debt interest remains untouched. Shareholders are due to vote on Oct. 28 on replacing STRC’s twice-monthly dividend schedule with daily payments. The first daily payment would be scheduled for Nov. 2 if approved, with the aim of keeping STRC near its $100 stated value without raising its 12% annual dividend rate.
Market impact
Strive’s purchase puts it within 1,000 BTC of Metaplanet’s 44,000 BTC and 514 BTC behind Twenty One Capital’s 43,514 BTC. Its latest funding included a $630 million offering of 15% Series A Perpetual SATS Preferred Stock, and a new $1 billion at-the-market program gives it additional capacity for Bitcoin purchases and other corporate needs.
That financing also creates recurring dividend obligations. Strive’s prospectus says future SATS dividends are expected to be funded primarily through additional capital raising, making investor demand central to the strategy. The next signal is whether Strive can keep converting preferred-stock demand into BTC accumulation while Strategy tests whether daily dividends can support STRC with less buyback intervention.
Frequently asked questions
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How much BTC did Strive buy in the latest week?
Strive bought 6,182 BTC for approximately $511.4 million between Oct. 17 and Oct. 23, lifting its holdings to 43,000 BTC.
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How much did Strategy spend on STRC buybacks?
Strategy spent a record $204.9 million to repurchase 2.07 million STRC preferred shares. Its cumulative STRC buybacks have exceeded $2 billion since July.
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Why did Strategy’s Bitcoin holdings remain unchanged?
Strategy purchased no Bitcoin during the latest week, ending a five-week buying streak. Its holdings remained at 848,517 BTC.
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How close is Strive to Metaplanet’s Bitcoin holdings?
Strive holds 43,000 BTC, which is 1,000 BTC fewer than Metaplanet’s 44,000 BTC. It also trails Twenty One Capital by 514 BTC.
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What is Strategy proposing for STRC dividends?
Strategy is seeking shareholder approval to replace STRC’s twice-monthly dividend schedule with daily payments. If approved, the first daily payment is scheduled for Nov. 2 without raising the current 12% annual dividend rate.
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