Strategy Did Not Buy or Sell Bitcoin Last Week: Executed $176 Million STRC Buyback

Strategy did not buy or sell Bitcoin last week, while repurchasing $176.3 million worth of STRC shares and increasing its digital lending securities buyback program to $2 billion.

Strategy, which holds a corporate Bitcoin treasury, focused on buybacks targeting its capital structure last week instead of increasing its Bitcoin reserves. According to the 8-K filing submitted to the SEC, the company’s Bitcoin holdings remained steady at 845,050 BTC.

While the value of this reserve is calculated at approximately $66.1 billion, the amount of Bitcoin held by the company corresponds to more than 4 percent of the total supply limit. During the period when it did not trade Bitcoin, Strategy repurchased 1.81 million STRC preferred shares for $176.3 million.

Strategy expanded STRC buyback

The company also increased the size of its buyback program for digital lending securities from $1 billion to $2 billion. Thus, in the past week, the company repurchased STRC shares and expanded its digital lending securities buyback program instead of making new Bitcoin purchases.

It was stated that the buybacks were financed using the company’s USD Cash reserve. As of September 7, Strategy’s USD Reserve balance stood at $5.10 billion, while its USD Cash balance was at $1.44 billion.

Although Strategy’s Bitcoin reserves remained unchanged, the company has brought its total holdings to 845,050 BTC through previous purchases. The development over the last week was the decision not to add new Bitcoin to this massive reserve and instead direct the company’s existing cash toward capital buybacks.