Strategy Sticks with 845k BTC, Repurchases STRC Shares
Strategy, a company known for its large Bitcoin holdings, has made several key moves in recent weeks. As of September 7, it held 845,050 BTC, worth approximately $66.1 billion at prevailing prices and representing over 4% of the total 21 million supply. Despite this substantial position, Strategy did not buy or sell any additional Bitcoin last week.
Instead, the company directed its cash toward repurchasing STRC preferred shares. In a Securities and Exchange Commission (SEC) filing, it reported that it had repurchased 1.81 million STRC shares for approximately $176.3 million, doubling its authorization for repurchases of digital credit securities to $2 billion from $1 billion.
According to Executive Chairman Michael Saylor and CEO Phong Le, the decision not to buy more Bitcoin follows several months of managing the financing structure surrounding Strategy's Bitcoin treasury. They argue that this is about allocating capital across their increasingly complex balance sheet, rather than a retreat from Bitcoin.