Strategy Repurchases STRC Preferred Shares, Doubles Credit Repurchase Cap

Strategy, the corporate treasury company led by Michael Saylor's MSTR (NASDAQ), made two significant moves in its latest SEC filing. Firstly, it spent $176.3 million repurchasing its STRC preferred shares, buying back 1,810,885 shares at an average price of $97.75 per share.

The funds for the buyback came out of Strategy's USD Cash account, which had around $5.10 billion available as of September 7. This move leaves Strategy with about $1.19 billion in cash reserves and a total of $2 billion authorized for its Digital Credit Securities Repurchase Program.

In related news, the company did not make any purchases or sales of Bitcoin (BTC) during the period between August 31 and September 7. Its BTC stash remains unchanged at around 845,050 BTC, valued at approximately $66.1 billion based on current prices.