Strategy Repurchases $139M Worth of STRC Instead of Buying More BTC

Michael Saylor's Strategy has once again passed on buying Bitcoin for two consecutive weeks, choosing instead to repurchase its own preferred stock, STRC. This move saw the company spend $139.3 million on 1.42 million shares of STRC between Sept. 8 and Sept. 13.

The repurchases were funded entirely from Strategy's USD Cash reserve, leaving its Bitcoin holdings unchanged at 845,050 BTC.

This has raised concerns about the company's capital structure and whether it is diverting resources away from accumulating more Bitcoin, which it holds for approximately $63.73 billion.