Strategy Skips Weekly Bitcoin Buy to Repay $176M in Preferred Shares

Strategy, the largest corporate Bitcoin treasury, has made an unusual move by skipping its weekly Bitcoin acquisition to repurchase $176 million of its preferred STRC stock. According to a recent filing with the US Securities and Exchange Commission, Strategy repurchased 1.8 million STRC shares between August 31 and September 7.

The company's Digital Credit Securities Repurchase Program has been doubled in size to $2 billion, and with no new Bitcoin purchases, its holdings sit at 845,050 BTC acquired for a total of $63.6 billion at an average purchase price of $75,412 apiece.

Last week, Strategy made its first Bitcoin buy since mid-June, purchasing $370 million worth of BTC.