Michael Saylor’s Strategy pauses Bitcoin purchases to repurchase $176 million in stock
- Strategy repurchased 1.8 million STRC shares for $176.3 million from Aug. 31 to Sept. 7.
- The company’s Bitcoin holdings remain at 845,050 BTC, acquired for $63.6 billion at an average price of $75,412 each.
- Strategy doubled its Digital Credit Securities Repurchase Program to $2 billion.
- STRC shares traded at $97.70, a discount of about 2.3% from par value, while MSTR common stock fell over 3%.
- Strive acquired an additional 1,375 Bitcoin for $109 million, bringing its total to over 24,531 BTC.
By pausing its Bitcoin acquisitions, Strategy aims to strengthen its financial position through stock buybacks and increased dividends on preferred shares. The company’s actions come amidst a competitive landscape where other firms like Strive are actively expanding their Bitcoin holdings.
With no new Bitcoin purchases last week and a significant stock repurchase instead, Strategy continues to hold a substantial amount of Bitcoin, totaling over $63 billion in investments as it navigates market challenges.(Source)
