Bitcoin traded at $64,428 on Nov. 14 after falling 21.21% over one month, reducing the estimated value of Strategy’s 850,364 BTC to approximately $54.79 billion versus a reported acquisition cost of $64.16 billion. Strategy bought 1,036 BTC for $81.9 million at an average $79,012 during Nov. 2-8, funded by common-stock sales, and repurchased 1,887,464 STRC preferred shares for $188.3 million. Michael Saylor compared STRC, whose variable annualized dividend rate was 12% on Nov. 13, with bitcoin’s performance, while the company maintained a $4.77 billion reserve for preferred-stock dividends and debt interest.