Image credit: Strategy
Strategy made no Bitcoin purchases for a second consecutive week, leaving its holdings unchanged at 845,050 BTC as the company continued buying back its STRC preferred stock. The Bitcoin treasury company spent $139.3 million on STRC repurchases between Sept. 8 and Sept. 13 and made no sales through its at-the-market equity program during the period.
Bitcoin Holdings Stay at 845,050 BTC
Strategy reported no Bitcoin purchases or sales between Sept. 8 and Sept. 13. It also made no Bitcoin transactions during the previous reporting period from Aug. 31 through Sept. 7.
The company holds 845,050 BTC acquired for an aggregate $63.73 billion, including fees and expenses. Its disclosed average acquisition price is approximately $75,412 per Bitcoin.
Strategy last added to its holdings during the week ended Aug. 30, when it purchased 4,603 BTC for $369.7 million at an average price of $80,318. The acquisition was funded with proceeds from MSTR shares sold through its ATM program.
STRC Buybacks Continue Instead
Strategy repurchased 1,420,467 STRC shares for $139.3 million during the latest reporting period. The purchases were funded from its USD Cash balance rather than the separate USD Reserve maintained for certain preferred-stock and debt obligations.
That followed $176.3 million of STRC repurchases during the previous week, bringing spending across the two periods to about $315.6 million. Strategy also increased its Digital Credit Securities Repurchase Program authorization from $1 billion to $2 billion on Sept. 8. Strategy President and CEO Phong Le said in July:
“At prices below $100 per share, STRC repurchases represent an attractive allocation of capital.”
Cash Balance Falls as Buybacks Continue
Strategy reported $1.30 billion of USD Cash as of Sept. 13, down from $1.44 billion a week earlier. Its separate USD Reserve remained at $5.10 billion.
The company says USD Cash can be used for Bitcoin purchases, additions to the USD Reserve and other capital-management purposes. Strategy had about $1.05 billion of authorization remaining under its Digital Credit Securities Repurchase Program after the latest STRC purchases.
Two-Week Pause Does Not Establish Strategy Change
The two-week pause does not by itself establish that Strategy has changed its longer-term Bitcoin policy. The company has previously paused purchases and has also sold Bitcoin under its broader capital-management framework.
Strategy did not provide guidance on when its next Bitcoin purchase could occur. Its next weekly disclosure will show whether the company resumes accumulation or continues directing available capital toward STRC and other balance-sheet priorities.
