Strategy Repurchases Shares with Cash, Keeps Massive BTC Holdings Intact

Strategy, described as the world's first and largest Bitcoin treasury company, has revealed its latest financial moves. In its most recent filing, the company disclosed that it repurchased approximately US$176.3 million worth of its own STRC preferred shares over the past week. The funds for this purchase came from Strategy's USD Cash reserve, which stood at around US$1.44 billion as of September 7th.

This move is significant because it contrasts with some previous actions by the company. In August, Strategy had purchased 4,603 BTC worth about US$369.7 million to bolster its balance sheet after a pause in Bitcoin purchases that lasted around ten weeks.

Strategy's treasury currently holds 845,050 BTC, valued at roughly US$66.1 billion. The company has stated that it values the flexibility of selling a limited amount of Bitcoin at opportune levels over issuing equity to cover preferred dividends. This approach has been defended by Chief Executive Phong Le.