Strategy Bypasses Bitcoin Buy, Repurchases $176M in STRC Preferred Stock

Strategy, the largest corporate Bitcoin treasury, has made some significant moves in its investment portfolio. Instead of buying more Bitcoin this week, the company chose to repurchase $176 million worth of its STRC preferred stock. This decision saw Strategy acquire 1.8 million STRC shares between August 31st and September 7th.

The total cost of these purchases came out to an aggregate $176.3 million, according to a recent filing with the US Securities and Exchange Commission (SEC). It's worth noting that this move skips over the company's usual weekly Bitcoin acquisition.

Additionally, Strategy has doubled the size of its Digital Credit Securities Repurchase Program to $2 billion. This program allows the company to repurchase digital securities within its portfolio. As a result of these actions, Strategy now holds 845,050 BTC at an average purchase price of $75,412 per coin.