Strategy Doubles Digital Credit Repurchase Program to $2 Billion

Strategy Inc., a company that owns a significant amount of Bitcoin, has doubled its preferred-stock repurchase program to $2 billion. This move allows the company to buy back more of its own digital credit securities.

The authorization covers purchase prices as well as commissions, fees, and expenses, including repurchases already completed. As of September 7, there was still $1.19 billion available under the Digital Credit Securities Repurchase Program.

Between August 31 and September 7, Strategy spent $176.3 million repurchasing shares of its variable-rate Series A perpetual Stretch preferred stock, traded as STRC. This was funded by the company's USD Cash account, which has a balance of $1.44 billion.