Strategy Buys Back $174M in STRC Shares Under Program with $1.19B Left

Strategy has made its latest move in the Digital Credit Securities Repurchase Program, repurchasing approximately $174 million worth of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) shares. This brings the company's cumulative buybacks under the program past $1.12 billion.

The repurchase was funded through cash reserves rather than Bitcoin sales, a point Strategy clearly wants investors to notice. The company has been explicit that its USD reserve is kept separate from its Bitcoin treasury and is earmarked for preferred dividends, interest obligations, and opportunistic repurchases like this one.

STRC's par value is $100 per share, and when it trades below that level, buying it back at a discount is mathematically accretive. Every share retired below par effectively captures the spread between the market price and face value as a gain for the company.