Strategy repurchases $139 million of STRC preferred shares while keeping bitcoin holdings steady

Strategy (MSTR) bought back 1.42 million STRC preferred shares for about $139.3 million between September 8 and September 13, using cash from its USD cash reserve.

Cash reserves and share repurchase

After the repurchase, Strategy reported USD reserve balances of $5.1 billion and a USD cash balance of $1.3 billion as of September 14.

Bitcoin holdings unchanged

The firm did not buy or sell any bitcoin during the same week, leaving its bitcoin position at 845,050 BTC, valued at roughly $65.7 billion. This represents just over 4% of bitcoin’s 21 million‑coin supply cap and reflects about $2 billion of paper gains at current prices. The average cost of the bitcoin acquired to date is $75,412 per BTC, for a total acquisition cost of $63.7 billion.

Strategic framework and buyback programs

Under its Digital Credit Capital Framework, Strategy limits the use of its USD reserve to preferred‑stock dividends, interest payments, and securities repurchases. The company authorized a $1 billion repurchase program for its digital credit securities, initially focusing on STRC, and raised that authorization to $2 billion last week. It also approved a $1 billion common‑stock buyback and expanded its BTC Monetization Program, allowing up to $5 billion of bitcoin sales to fund reserves, dividends, interest, and securities repurchases.

Market context

Strategy’s common stock fell 4.7% last week, closing at $130.97, while bitcoin dropped 3.9% over the same period. Among public companies with bitcoin treasuries, the top holders after Strategy include Twenty One, Metaplanet, Marathon Digital (MARA), and Bitcoin Standard Treasury Company.