Strategy repurchased about $176 million worth of its STRC preferred shares while temporarily pausing new Bitcoin purchases.
The company also doubled the size of its Digital Credit Securities Repurchase Program to $2 billion, signaling a shift in how it is deploying capital in the short term.
Strategy Repurchases $176 Million in STRC Shares
Michael Saylor’s Strategy, the world’s largest corporate Bitcoin treasury, bought back approximately 1.8 million STRC preferred shares between Aug. 31 and Sept. 7.
The repurchases were worth a combined $176.3 million, according to a filing with the U.S. Securities and Exchange Commission.
At the same time, Strategy increased the size of its Digital Credit Securities Repurchase Program from $1 billion to $2 billion.
The company made no new Bitcoin purchases during the period.
Strategy’s Bitcoin Holdings Remain at 845,050 BTC
With no additional Bitcoin purchases, Strategy’s total holdings remain at 845,050 BTC.
The company has spent approximately $63.6 billion building its Bitcoin treasury.
Its average acquisition price currently stands at about $75,412 per Bitcoin.
The pause comes shortly after Strategy resumed Bitcoin buying last week with a purchase worth around $370 million.
That transaction marked its first new BTC acquisition since mid-June.
Why Strategy Is Buying Back STRC Shares
STRC is one of Strategy’s preferred equity instruments and plays an important role in financing the company’s Bitcoin accumulation strategy.
The shares are designed to trade near a $100 par value.
However, STRC was recently trading around $97.70, placing it roughly 2.3% below that target.
When STRC trades below par, it becomes more difficult for Strategy to efficiently raise capital by issuing new shares.
That could also increase pressure on the company to offer a higher dividend yield to attract investors.
Repurchasing shares may therefore help provide support to STRC’s market price.
Strategy Raises STRC Dividend Rate
Strategy has also taken other steps to strengthen its preferred stock offering.
The company introduced a new capital framework in June that allows it to sell Bitcoin if necessary to fund dividend payments.
It also increased the annual dividend rate on STRC preferred shares to 12%.
These moves are designed to make STRC more attractive to income-focused investors while preserving its role as a funding vehicle for Strategy’s broader Bitcoin strategy.
MSTR Shares Come Under Pressure
While STRC shares remained relatively stable in premarket trading, Strategy’s common stock faced more pressure.
MSTR shares were down more than 3% in early trading.
The decline suggests investors are closely watching how Strategy balances Bitcoin accumulation with preferred stock support and capital management.
The decision to pause Bitcoin purchases may also have surprised investors who have become accustomed to frequent additions to the company’s BTC holdings.
Strive Steps Up Bitcoin Purchases
While Strategy temporarily paused its Bitcoin buying, other corporate Bitcoin treasury companies continued to add to their holdings.
Strive, one of the largest publicly traded corporate Bitcoin holders, purchased 1,375 BTC for approximately $109 million.
The company paid an average price of around $79,281 per Bitcoin.
The acquisition increased Strive’s total Bitcoin holdings to 24,531 BTC.
Despite the purchase, its Nasdaq-listed shares were down more than 2.5% ahead of Tuesday’s market open.
However, the stock had more than doubled over the previous month.
Capital B Also Expands Its Bitcoin Treasury
France-listed Capital B also announced a major Bitcoin purchase.
The company acquired approximately $25 million worth of BTC, marking its largest Bitcoin purchase in nearly a year.
The transaction increased Capital B’s holdings and pushed the company ahead of H100 Group among publicly traded corporate Bitcoin treasuries.
The move shows that corporate demand for Bitcoin remains active even as Strategy temporarily shifts its focus toward preferred share repurchases.
Strategy Balances Bitcoin Growth With Capital Management
Strategy’s decision to buy back $176 million in STRC shares instead of adding more Bitcoin highlights the growing complexity of its capital strategy.
The company is no longer focused solely on accumulating BTC.
It must also manage preferred shares, dividend obligations, market pricing and investor demand across multiple funding instruments.
For now, Strategy remains the dominant corporate Bitcoin holder with 845,050 BTC.
However, the latest move suggests that supporting its financing structure may sometimes take priority over adding more Bitcoin to its balance sheet.
