Strategy repurchases $176 million of STRC shares and pauses Bitcoin buy
Strategy repurchased STRC shares as Bitcoin buys pause, boosting funding flexibility See how the $2B program and STRC's move below par may shape future BTC buys
Strategy repurchased $176.3 million of its STRC preferred shares between Aug. 31 and Sept. 7, according to a filing with the US Securities and Exchange Commission, while skipping its latest weekly Bitcoin purchase.
The company bought back 1.8 million STRC shares and increased the size of its Digital Credit Securities Repurchase Program to $2 billion. Strategy said its Bitcoin holdings remained at 845,050 BTC, purchased for a total of $63.6 billion at an average price of $75,412 per coin.
STRC traded below its $100 par value in premarket activity, while Strategy’s MSTR shares also moved lower. The article said STRC remains an important funding tool for the company’s Bitcoin strategy, and that trading below par may limit new issuance and affect dividend policy.