Strategy’s Focus Shifts from Bitcoin to Stock Buybacks
- Strategy repurchased 1,810,885 STRC shares for $176.3 million in the week leading to September 7.
- The board doubled its digital credit securities repurchase program from $1 billion to $2 billion.
- No Bitcoin was purchased or sold during this period, maintaining their holdings at approximately $65.7 billion.
- Strategy’s USD Cash pool stands at $1.44 billion after recent buybacks.
- Chair Michael Saylor and CEO Phong Le challenged MSCI’s index rule that could affect Strategy’s inclusion in global benchmarks.
In a strategic shift, Strategy focused on stock buybacks rather than purchasing more Bitcoin, spending $176.3 million on STRC shares while doubling its securities repurchase program limit to $2 billion. Despite holding a large Bitcoin reserve valued at around $65.7 billion, the company did not add to its cryptocurrency holdings during this period.
This move reflects Strategy’s current emphasis on strengthening its stock position over expanding its Bitcoin assets, as evidenced by the substantial allocation of funds towards share buybacks rather than additional Bitcoin purchases.(Source)
