Strategy, the Bitcoin treasury firm led by Michael Saylor, allocated $208.2 million to repurchasing its STRC preferred shares last week — more than three times the roughly $65.5 million it spent acquiring new Bitcoin — according to an 8-K filing submitted Monday with the United States Securities and Exchange Commission. The filing also detailed the company's funding sources and cash positions as of Sunday. The 8-K is the standard form US-listed companies use to disclose material corporate events, making it the recurring window into Strategy's weekly capital deployment.

Per the filing, the company purchased 811 Bitcoin (BTC) during the weekly reporting period, paying an average price of $80,846 per coin, which works out to a total outlay of approximately $65.5 million.

Funding through MSTR share sales

Strategy financed the week's activity by selling approximately 1.18 million MSTR common shares, generating net proceeds of $164 million. Of that amount, about $65.5 million funded the Bitcoin purchase, while the remaining $98.5 million was allocated to the company's USD Cash balance, the filing stated.

As of Sunday, Strategy held $132.7 million in USD Cash, in addition to a separate United States dollar reserve totaling $4.79 billion, per the filing.

Buybacks continue to outpace Bitcoin purchases

The latest weekly split extends a pattern that took shape in late October, when preferred-share repurchases dominated the company's capital deployment. Between Oct. 1 and Oct. 25, Strategy directed approximately $664 million toward STRC buybacks, while its Bitcoin acquisitions over the same period totaled only about $72 million.

For a company built around accumulating Bitcoin, the weekly filings now double as a running gauge of how its capital is being split between coin purchases and the repurchase of its own instruments.

STRC still trades below $100 issuance threshold

Strategy's STRC preferred stock rose 0.1% in pre-market trading on Monday to $99.22, leaving it about 0.8% below the company's $100 target price, according to Yahoo Finance data. Strategy maintains a policy of not issuing new STRC shares below $100, which effectively limits that source of funding for as long as the stock trades beneath its target.

That $100 level is the reference point to watch in upcoming quotes and filings, since the company's stated policy allows new STRC issuance to resume only at or above it.

Metaplanet reports its own share buyback

In a parallel development, another Bitcoin treasury company, Japan's Metaplanet, reported buybacks of its common shares on Monday. The company spent approximately 25.27 billion yen ($160 million) to repurchase 96.45 million shares between Oct. 14 and Saturday, according to its disclosure, with the repurchase representing roughly 7.1% of its issued shares. Unlike Strategy's repurchases of preferred stock, Metaplanet's program targeted its common shares — and the same-day disclosures give readers a cross-market look at how Bitcoin treasury companies are using buybacks alongside share sales as capital-management tools.

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