Strategy buys back $176M STRC, skips Bitcoin purchase — SkimNews
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- Strategy repurchased 1.8 million STRC preferred shares for an aggregate $176.3 million between Aug. 31 and Sept. 7, according to a Tuesday SEC filing
- Strategy doubled its Digital Credit Securities Repurchase Program to $2 billion while pausing new Bitcoin buys, leaving holdings unchanged at 845,050 BTC acquired for $63.6 billion at an average price of $75,412
- STRC traded at $97.70 in premarket Tuesday — a 2.3% discount from its $100 par value — while Nasdaq-listed parent MSTR slid more than 3%; the source notes trading below par limits Strategy's ability to raise funds through STRC sales
- Strategy unveiled a capital framework on June 29 permitting Bitcoin sales to fund dividends and raised STRC's annual dividend rate to 12%, a lever the company may have to push further as STRC trades below par
- Strive, the fifth-largest corporate Bitcoin treasury, acquired 1,375 BTC for $109 million (~$79,281 average) per CEO Matt Cole, bringing holdings to 24,531 BTC; ASST shares fell more than 2.5% premarket after more than doubling in the past month
- Capital B, a France-listed Bitcoin treasury, disclosed a $25 million Bitcoin purchase — its largest in nearly a year — pushing it ahead of H100 Group among publicly traded BTC holders
Why it matters: Strategy's pivot to STRC buybacks instead of Bitcoin accumulation exposes a structural squeeze: STRC is its main funding vehicle yet trades 2.3% below par, the dividend rate is already 12%, and the source explicitly warns that below-par trading could force a higher dividend — funded ultimately by Bitcoin sales. Smaller treasuries like Strive and Capital B are filling the void with $134 million in combined BTC buys.
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