Strategy Repurchases $176M in Preferred Stock, Passes on Buying More Bitcoin

Strategy, formerly known as MicroStrategy, has made an unusual move by repurchasing approximately $176.3 million worth of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) at an average price of roughly $97.48 per share.

This latest transaction brings the company's total STRC buybacks to over $635 million, with an average purchase price of around $94.38 per share. Strategy has remaining capacity for up to $2 billion in additional STRC repurchases under its Digital Credit Securities Repurchase Program.

The repurchased shares were funded from USD cash reserves, and no Bitcoin (BTC) was sold or new debt issued. This move effectively reduces the number of STRC shares outstanding and eliminates future dividend payments on those retired shares.