MicroStrategy Expands Digital Credit Securities Repurchase Program to $2B

MicroStrategy has announced that it has repurchased $176M worth of its own Digital Credit Securities (STRC) under its existing Digital Credit Securities Repurchase Program. According to a statement from Michael Saylor on September 8, the company has also increased the program's target to $2B from its previous level of $1B.

As of September 7, MicroStrategy held 845,050 BTC and had approximately $6.5B in USD assets under management. The announcement comes as Bitcoin trades at $78,260.04 on the four-hour chart, within a bearish structure defined by its 50-EMA at $78,975.02 and 200-EMA at $73,831.67.

Institutional desks note that sustained pressure below the 50-EMA could accelerate downside toward the 200-EMA before any potential recovery in Bitcoin's price prediction models.