Strategy increased its preferred stock repurchase program to $3 billion from $2 billion after buying back $193.1 million of STRC and acquiring 267 Bitcoin between October 12th and October 18th, according to a Form 8-K filed with the U.S. Securities and Exchange Commission on October 19th.

Company founder and chairman Michael Saylor announced the update in an October 19th X post, reporting that Strategy now holds 848,517 Bitcoin and $5.3 billion of USD assets.

Strategy's board approved the increase to what the company calls its digital credit securities repurchase program, which covers its preferred stock.

The new $3 billion limit includes all repurchases made under the program to date, the filing disclosed.

After the increase, $1.16 billion of capacity remained available as of October 18th, compared with $354.8 million a week earlier.

The company bought back 1,938,780 STRC shares during the week, an average of about $99.60 per share based on the reported totals.

STRC, formally the Variable Rate Series A Perpetual Stretch Preferred Stock, is one of several preferred share classes Strategy has issued.

Strategy funded the repurchases with $193.1 million of USD Cash.

The company paid $22.1 million for the 267 Bitcoin, an average of $82,900 each, including fees and expenses.

Its total holdings were acquired for an aggregate $64.02 billion, or $75,446 per Bitcoin.

Of the Bitcoin purchase, $22.0 million came from selling 140,872 shares of MSTR Class A common stock through the company's at-the-market program, and $0.1 million came from USD Cash.

An at-the-market program lets a company sell newly issued shares gradually into the open market at prevailing prices.

Strategy sold no shares of STRC or its other preferred stocks, STRF, STRK, and STRD, and made no purchases under its MSTR buyback program, which has $1.0 billion remaining.

The USD Reserve, which Strategy maintains to support preferred dividends and interest on its debt, declined to $4.83 billion from $4.88 billion after the company used $45.5 million of it to pay preferred dividends.

USD Cash, held for broader purposes such as buying Bitcoin and managing capital, fell to $447.3 million from $640.5 million a week earlier.

In a follow-up post, Saylor reported a USD Duration of 3.4 years and a BTC Credit of 53 basis points for STRC, assuming a 10% annual Bitcoin return, 40% volatility, and a Bitcoin price of $81,468.

A week earlier, he reported 3.5 years and 52 basis points for the same metrics, based on a Bitcoin price of $82,252.

Strategy describes BTC Credit as one of several illustrative credit metrics for assessing its Bitcoin-collateralized creditworthiness.