Strategy Buys 1,036 BTC but Spends More Repurchasing Its Preferred Stock Just Under $100

Strategy repurchased $188.3 million of its Stretch preferred stock at roughly $99.76 per share last week, a larger outlay than its purchase of 1,036 BTC, and sold no preferred shares even after the stock briefly hit $100 on Nov. 4. The dual move shows Saylor's firm prioritizing support for its preferred equity near par while continuing incremental bitcoin accumulation. The buyback's size relative to the BTC purchase puts fresh focus on how Strategy balances its capital return commitments against its treasury strategy. Investors will watch whether Stretch trades sustainably above $100 and whether future weeks bring renewed preferred issuance or further bitcoin buys.