Michael Saylor sounds more confident about bitcoin than his company’s latest purchases suggest. On Oct. 13, Strategy’s (MSTR) executive chairman said bitcoin has likely bottomed and that the company could step up its buying. But between Oct. 5 and Oct. 11, Strategy bought just 250 bitcoin for about $21.5 million, its smallest purchase this year. Over the same period, it spent about $192 million buying back its Strategy Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) preferred stock, roughly nine times what it spent on bitcoin. Rival Strive (ASST) announced a $280 million purchase of 3,311 bitcoin on October 13, which Saylor publicly praised.
