Strategy pauses Bitcoin buys, repurchases $176M STRC shares
In brief
- Strategy repurchased 1.8M STRC shares for $176.3M between August 31 and September 7
- Company doubled Digital Credit Securities Repurchase Program to $2 billion
- Strategy holds 845,050 BTC acquired for $63.6 billion despite skipping weekly purchase
Preferred Stock Buyback Accelerates
Strategy repurchased 1.8 million STRC shares for an aggregate $176.3 million between August 31 and September 7. The company also doubled the size of its Digital Credit Securities Repurchase Program to $2 billion, expanding its toolkit for managing capital allocation. Alongside the buyback, Strategy increased the annual dividend rate on its STRC preferred stock to 12%.
STRC remains one of Strategy's main vehicles to fund its Bitcoin accumulation. The preferred shares were trading at $97.70 on Tuesday, reflecting a 2.3% discount from the intended $100 par value—a pricing opportunity that prompted the buyback timing.
Bitcoin Holdings and Broader Market
Strategy's Bitcoin position remains substantial. The company holds 845,050 BTC acquired for a total of $63.6 billion at an average purchase price of $75,412 per coin. Despite this week's pause, Strategy made its first Bitcoin buy since mid-June last week, acquiring $370 million worth of BTC. The pause reflects tactical flexibility rather than a shift in long-term strategy.
Other corporate Bitcoin treasuries remain active. Strive, the fifth-largest corporate Bitcoin holder, acquired 1,375 Bitcoin for $109 million at an average cost of $79,281 per BTC, bringing its total holdings to 24,531 Bitcoin. France-listed Capital B also revealed a $25 million Bitcoin acquisition on Monday, marking its largest purchase in nearly a year.
Strategy's decision to prioritize preferred stock repurchases over immediate Bitcoin buys illustrates how large corporate treasuries balance accumulation with shareholder returns and capital efficiency in volatile markets.
