Strategy pauses Bitcoin buys for $176M STRC buyback — 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 an SEC filing.
- Strategy skipped its weekly Bitcoin purchase, leaving holdings unchanged at 845,050 BTC — acquired for a total of $63.6 billion at an average price of $75,412 — after buying $370 million of BTC last week.
- Strategy doubled the size of its Digital Credit Securities Repurchase Program to $2 billion alongside the STRC buyback.
- STRC traded at $97.70 in premarket — a 2.3% discount to its $100 par value — while parent MSTR fell more than 3% on the Nasdaq.
- STRC trading below par limits Strategy's ability to raise fresh funds through preferred share sales and may force the company to raise the instrument's already-increased 12% annual dividend rate.
- While Strategy paused, Strive acquired 1,375 BTC for $109 million (bringing its total to 24,531), and France-listed Capital B disclosed a $25 million Bitcoin purchase — its largest in nearly a year.
Why it matters: Strategy's pivot from buying Bitcoin to buying back its own stock — a break from its weekly accumulation streak — shows STRC's below-par trading is now the binding constraint on the company's preferred-share fundraising channel. With $2 billion earmarked for repurchases and a 12% dividend at risk of being raised higher, Strategy is prioritizing the health of its financing vehicle over adding to a Bitcoin pile that already totals $63.6 billion in cost basis.
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