Bitcoin
Strategy Pauses Bitcoin Buys to Direct $139M Toward Preferred Share Buybacks
The company kept its 845,050 BTC holding unchanged for a second consecutive week, redirecting capital toward repurchasing its STRC perpetual preferred stock.
Strategy refrained from buying or selling Bitcoin for a second consecutive week, according to a Form 8-K filing submitted to the US Securities and Exchange Commission. Instead, the firm deployed $139.3 million from its cash reserves to repurchase 1.42 million units of its STRC perpetual preferred shares, leaving its aggregate Bitcoin treasury unchanged at 845,050 BTC.
The repurchased STRC securities carry no fixed maturity date and feature a variable monthly dividend adjusted to keep the market price near their $100 par value. By repurchasing these shares on the open market, the company aims to support the security's trading level while reducing future dividend obligations. The transaction was funded through the firm's dedicated USD Cash allocation, which stood at $1.3 billion alongside a separate $5.1 billion USD Reserve locked exclusively for dividend and debt servicing.
With the company's mNAV ratio falling to 1.1, Strategy paused equity issuance under its at-the-market common stock program. The company has doubled its digital credit repurchase authorization to $2 billion, approved an additional $1 billion common stock buyback program, and expanded its Bitcoin monetization framework to permit potential asset sales of up to $5 billion if required.
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