Strategy's Brief Bitcoin Buying Spree Ends with $176M Preferred Stock Buy

Strategy, a Bitcoin treasury company, bought no Bitcoin in the week to September 7, marking an end to its two-month purchasing drought. Instead, it spent $176.3 million buying back its own preferred stock, specifically STRC, variable rate perpetual stretch preferred shares.

The company repurchased 1,810,885 shares of STRC at a filing on Tuesday, stating that the funds came from its USD Cash pool. Strategy did not buy any other types of preferred stock or common stock in MSTR during this period.

This marks an abrupt change from Strategy's previous buying streak, which lasted exactly one week in the preceding two-month drought.