Strategy Buys Back $139 Million of STRC, Bitcoin Stack Frozen for Second Week — SkimNews
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- Strategy repurchased 1,420,467 shares of its STRC preferred stock for $139.3 million between September 8 and 13, funded entirely from its USD Cash reserve, down from $176.3 million spent the prior week.
- Strategy bought and sold no Bitcoin during the period, leaving holdings unchanged at 845,050 BTC — acquired for $63.73 billion at an average of $75,412 per coin — for a second consecutive week.
- Strategy left roughly $1.05 billion remaining under its $2 billion digital credit securities repurchase program, plus a separate $1 billion MSTR stock buyback authorization untouched; no STRF, STRK, STRD, or MSTR shares were repurchased.
- STRC's BTC Credit spread sat at roughly 57 basis points — well below Strategy's 150 bps investment-grade threshold — with the company's aggregate Bitcoin reserve valued at $66.2 billion against a 2.48% blended breakeven annualized return and 40.3-year duration.
- Strategy's USD Cash balance fell to $1.30 billion as of September 13 from $1.44 billion a week earlier, tracking the $139.3 million STRC buyback; the USD Reserve stood at $5.10 billion.
- MSCI's consultation on stripping "non-operating companies" like Strategy from its global equity benchmarks closes September 30, with a decision due October 16 that could move billions in passive fund flows tied to Strategy's index weighting.
Why it matters: Strategy deployed $139.3 million into its own preferred stock while pausing Bitcoin accumulation for a second week, signaling a capital-allocation tilt toward supporting STRC's price over growing its BTC stack ahead of an October 16 MSCI decision that could trigger billions in passive fund outflows if the company is dropped from global equity benchmarks.
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