Strategy STRC Buyback Tops $950 Million

Strategy has expanded its preferred-stock buyback authorization from $1 billion to $2 billion as it prioritizes supporting STRC over buying more Bitcoin. In a reported transaction, the company repurchased $139 million of STRC, taking cumulative STRC buybacks above $950 million. Earlier filings showed Strategy bought 1,810,885 STRC shares for $176.3 million between August 31 and September 7, at an average price of about $97, below the $100 par value. STRC rose more than 11.7% after the latest announcement. Strategy said its balance sheet can cover more than 3.9 years of preferred dividends. It also reported $5.10 billion in reserves for preferred dividends and debt interest, plus $1.44 billion in general-purpose cash. The company did not repurchase STRF, STRK, STRD or MSTR shares, issue stock through its at-the-market programme, or buy or sell Bitcoin. Its holdings remained at 845,050 BTC, acquired for $63.73 billion at an average cost of $75,412 per coin. A further $1.19 billion remained available under the expanded buyback programme. The Strategy STRC buyback may support STRC and improve confidence in the company’s capital management. However, the lack of new Bitcoin purchases removes a potential near-term bullish catalyst for BTC. The announcement does not directly change Bitcoin supply, demand or spot-market fundamentals.