Pluang Strategy Spends $139M on Preferred Stock Repurchase Instead of Buying More Bitcoin

Strategy, an investment company, has chosen not to buy more Bitcoin between September 8 and 13. Instead, it spent $139.3 million repurchasing 1.42 million shares of its STRC preferred stock.

The company currently holds 845,050 BTC, valued at approximately $63.73 billion with an average cost of $75,412 per Bitcoin.

Strategy is prioritizing capital management by buying back STRC shares trading below their stated value of $100, aiming to reduce future dividend costs and support STRC's market price.