Strategy Prioritizes STRC Buybacks Over Bitcoin Purchases

Michael Saylor’s Strategy shifted its spending priorities last week, allocating significantly more funds to repurchasing its preferred stock, STRC, than to Bitcoin (BTC) acquisitions. The company bought 334 BTC for $28.7 million, increasing its holdings to 848,000 BTC. Meanwhile, Strategy repurchased about 1.77 million shares of STRC preferred stock for $176.3 million, more than six times its Bitcoin budget for the week.

The capital allocation reflects Strategy’s growing emphasis on preferred stocks to fund and manage its Bitcoin treasury strategy. The company filed a proxy seeking shareholder approval to overhaul dividend payments across its preferred-stock lineup, including STRC, STRF, STRK, and STRD. The proposal aims to replace STRC’s twice-monthly dividend schedule with daily payments and switch the other three preferred stocks from quarterly to daily payments.

Strategy argues that the changes would not alter dividend rates or overall payment obligations but could reduce reinvestment delays and improve liquidity and price stability. Shareholders will vote on the proposal at a special meeting on October 28. If approved, STRC’s daily dividend schedule would start in November, with STRF, STRK, and STRD following in January.