Bitcoin treasury firm Strategy (MSTR) repurchased 1.42 million shares of its STRC preferred stock between Sept. 8 and Sept. 13, spending about $139.3 million, according to a Form 8-K filed with the U.S. Securities and Exchange Commission on Monday. The filing said the buyback was funded with the company’s U.S. dollar cash reserves.
As of Sept. 14, Strategy reported $5.1 billion in U.S. dollar reserves and a $1.3 billion U.S. dollar cash balance. The company also said it did not buy or sell any bitcoin last week, leaving its holdings unchanged for a second straight week at 845,050 BTC, valued in the report at about $65.7 billion. That stash represents more than 4% of bitcoin’s 21 million supply cap.
Based on the current price cited in the report, the position implies roughly $2 billion in unrealized gains. Strategy said its aggregate acquisition cost stands at $63.7 billion, with an average purchase price of about $75,412 per bitcoin. Under its newly introduced digital credit capital framework, the company has restricted its dollar reserves for preferred dividend and interest payments, expanded its digital credit securities repurchase authorization from $1 billion to $2 billion with STRC as the priority, approved a separate $1 billion common stock buyback, and broadened its bitcoin monetization plan to allow sales of as much as $5 billion in BTC.
Strategy (MSTR), the bitcoin treasury company, repurchased 1.42 million shares of STRC preferred stock between Sept. 8 and Sept. 13 for about $139.3 million.
According to a Form 8-K filed with the U.S. Securities and Exchange Commission on Monday, the repurchase was funded from the company’s U.S. dollar cash reserves. As of Sept. 14, Strategy reported $5.1 billion in U.S. dollar reserves and a $1.3 billion U.S. dollar cash balance.
Bitcoin holdings stayed flat for a second straight week
Strategy said it neither bought nor sold bitcoin last week. Its total holdings remained unchanged for the second consecutive week at 845,050 BTC, worth about $65.7 billion based on the filing’s figures.
That amount equals more than 4% of bitcoin’s 21 million supply cap. At the current price referenced in the report, the position carries roughly $2 billion in unrealized gains. Strategy’s total acquisition cost was listed at $63.7 billion, and its average purchase price was about $75,412 per BTC.
Repurchase plans under the digital credit capital framework
Under its newly launched digital credit capital framework, Strategy said its dollar reserves are limited to preferred stock dividend and interest payments. The company also authorized a $1 billion digital credit securities repurchase program, with STRC designated as the priority security for repurchases. That authorization was increased to $2 billion last week.
Separately, the company approved a $1 billion common stock repurchase program and expanded its bitcoin monetization plan to permit sales of up to $5 billion in bitcoin.
Co-founder and Executive Chairman Michael Saylor has not posted his usual bitcoin holdings tracker chart updates in recent weeks.
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