Strategy pauses Bitcoin purchases and doubles preferred‑share buyback program

Strategy reported that it used existing USD cash to repurchase 1,810,885 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for $176.3 million during the week ending September 7. The company did not buy or sell any Bitcoin or issue new shares through its at‑the‑market programs.

Buyback program expansion

The board increased the Digital Credit Securities Repurchase Program authorization from $1 billion to $2 billion. After the latest repurchase, about $1.19 billion of capacity remains available under the program. The separate MSTR common‑stock repurchase authorization of $1 billion remains untouched.

STRC repurchase details

STRC carries a $100 stated amount and pays a variable cash dividend, currently quoted at a 12 % annualized rate. The average price paid for the latest repurchases was approximately $97.36 per share, below the stated amount, allowing the company to reduce outstanding preferred shares at a discount.

Bitcoin treasury unchanged

Strategy’s Bitcoin holdings stayed at 845,050 BTC, acquired at an average cost of $75,412 per coin for a total outlay of $63.73 billion (including fees). No Bitcoin was purchased or sold during the reporting period, marking a one‑week pause in treasury activity.

Cash reserves

The company reported a USD reserve of $5.10 billion, intended to cover preferred‑dividend and debt‑interest obligations, and a separate deployable USD cash balance of $1.44 billion, which can be used for Bitcoin purchases, additional repurchases, or other corporate purposes.

Market context

On September 8, STRC closed at $98.04, 0.30 % higher for the day but still below its $100 stated amount. MSTR shares fell 4.40 % to $136.52, while broader crypto‑related equities also declined.