Strategy Focuses On $950 Million STRC Buyback Over Bitcoin

Strategy just dropped $139.3 million to repurchase STRC variable rate preferred shares. This brings the company spending on total buybacks to about $950.8 million since July 20. Surprisingly, this figure is more than twice the amount spent on acquiring Bitcoin over the exact same timeframe, showing a clear shift in recent corporate priorities.

Regulatory filings show that purchases between September 8 and September 13 used the company USD Cash balance, while Bitcoin holdings stayed flat at 845,050 coins. Management points out that buying back preferred shares below their $100 stated value helps reduce future dividend costs. The board even doubled the repurchase authorization to $2 billion on September 8, leaving about $1 billion still available.

Traders and market watchers should keep an eye on how the company balances its cash reserves between these share buybacks and future coin purchases. With plenty of room left in the buyback authorization, the short term focus might remain on preferred shares rather than expanding the main treasury.