Strategy spent nearly nine times as much on STRC buybacks as Bitcoin last week

Strategy (formerly MicroStrategy) bought 250 Bitcoin for $21.5 million last week while spending $192.4 million to repurchase its STRC preferred shares.On Oct. 12, the Michael Saylor-founded company disclosed that it acquired just 250 Bitcoin for about $21.5 million between Oct. 5 and Oct. 11, extending a slowdown that saw purchases fall to 334 BTC the previous week.Meanwhile, Strategy repurchased 1,932,145 shares of its variable-rate STRC preferred stock for $192.4 million, nearly nine times its Bitcoin spending, as the company continued its STRC buybacks.The spending gap highlights the competing demands on Strategy's capital: Bitcoin accumulation and support for its preferred securities.STRC buybacks consume more capitalThe latest acquisition lifted Strategy's holdings to 848,250 BTC, purchased for approximately $64 billion at an average price of $75,444 per coin.Strategy paid an average of roughly $86,194 for its latest Bitcoin purchases, compared with $85,839 for the 334 BTC acquired during the previous reporting period.The slowdown comes as Bitcoin struggles to sustain its recovery after last week's market downturn briefly pushed the cryptocurrency toward $80,000.However, Strat...