Strategy Inc. Repurchases $176 Million in STRC Shares, Maintains Bitcoin Holdings

Strategy Inc., previously known as MicroStrategy, has made a significant move by repurchasing approximately 1.81 million shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for $176.3 million. This transaction was funded entirely from USD cash reserves, with no Bitcoin purchases or sales occurring during this period.

The company’s Bitcoin holdings remain unchanged at 845,050 BTC, which it acquired at an average cost of approximately $75,412 per coin. This substantial Bitcoin position effectively turns MSTR shares into a leveraged Bitcoin proxy for equity investors.

Details of the Repurchase Program

• The repurchase falls under Strategy's Digital Credit Securities Repurchase Program, which was authorized on June 29, 2026, allowing up to $2 billion for buying back preferred securities.
• With this latest buyback, cumulative STRC repurchases have now exceeded $635 million at an average price of around $94.38 per share.
• STRC carries a 12% annualized variable dividend, and repurchasing shares below par value eliminates future dividend obligations.

Strategy's decision to enhance its repurchase program from $1 billion to $2 billion indicates a strong commitment to managing its capital structure. The company still retains $1 billion authorized for common stock buybacks that remains untapped.

Despite the recent repurchase, Strategy's USD reserves and cash have declined to approximately $6.5 billion, primarily due to ongoing dividend obligations. The firm continues to emphasize its strategy of not selling Bitcoin to meet cash needs, relying instead on equity sales to maintain liquidity.