Strategy Pauses Bitcoin Purchases Amid STRC Repurchases

Strategy, the largest corporate holder of Bitcoin, has paused its Bitcoin purchases. Instead of adding to its BTC treasury during its most recent reporting window, it used part of its financing machinery to repurchase shares of its preferred stock vehicle, STRC. This signals a shift toward capital structure management rather than fresh Bitcoin accumulation.

The company repurchased $176.3 million worth of STRC preferred shares, about 1.8 million shares, between Aug. 31 and Sept. 7. Over the same period, Strategy also increased the size of its Digital Credit Securities Repurchase Program to $2 billion.

Its BTC treasury remains unchanged at 845,050 BTC, acquired for $63.6 billion at an average cost of $75,412 per coin. The company's decision not to purchase Bitcoin during this window coincides with continued accumulation by other corporate holders.