Strategy Inc Buys Back $455m Worth of STRC Preferred Stock

Strategy Inc's recent $455m repurchase of its STRC preferred stock has helped pull the security back towards its $100 face value, which it had fallen to as low as $83 in June due to a combination of management decisions and a bitcoin bear market.

The company itself has been the committed buyer, with Strategy's 27 July press release announcing the first tranche: 288,930 STRC shares repurchased for about $25.0m at an average $86.52 between 20 and 26 July, leaving about $975m under the Digital Credit Securities Repurchase Program announced in June 2026.

The pace of buybacks quickened in September, with weekly disclosures showing about $139.3m in the week to 13 September, following $176.3m and $139.3m in the prior two weeks.

CEO Phong Le explained that repurchases below $100 reduce future preferred dividend requirements at a discount, while Strategy's USD Reserve of $3.75bn is barred from funding buybacks.