Strategy spent $193.1 million repurchasing nearly 1.94 million STRC preferred shares during the week through Oct. 18 and increased its repurchase authorization from $2 billion to $3 billion, leaving about $1.16 billion available. The purchases averaged approximately $99.60 per share, close to the $100 stated value, while discretionary USD Cash fell to $447.3 million from $1.61 billion on Aug. 30. Strategy separately bought 267 Bitcoin for $22.1 million, bringing its holdings to 848,517 BTC, acquired for approximately $64.02 billion. It funded about $22 million of the Bitcoin purchase by selling 140,872 common shares and used $100,000 of USD Cash for the balance. A separate USD Reserve stood at $4.83 billion after $45.5 million in preferred-stock dividends. The buybacks come as MSCI considers excluding companies classified as non-operating entities from its global indexes, a change that could affect Strategy and its equity funding model. MSCI plans to publish its final affected-company list Nov. 11, with changes taking effect Nov. 30. Strategy is scheduled to report third-quarter earnings Oct. 29.