Strategy buys $176M STRC, doubles digital credit repurchase cap to $2B and holds on BTC

Michael Saylor’s world-leading corporate treasury company, Strategy (NASDAQ: MSTR) disclosed in its latest SEC filing that it spent $176.3 million repurchasing its STRC preferred shares.

During the same week, it also doubled the size of its digital credit repurchase program to $2 billion, while it did not remove or add any Bitcoin to its $63.73 billion, 845,050 BTC stack. Strategy did not sell any new stocks either.

The stay on Strategy’s Bitcoin follows the firm’s first Bitcoin purchase in two months, which came in late August after a 10-week no-purchase streak.

What does it mean when Strategy does not buy Bitcoin?

After relentlessly buying Bitcoin through different market scenarios, analysts now watch Strategy’s treasury management moves across Bitcoin, common stock, preferred shares and cash stack for signals.

The 8-K filing for the period that ran between August 31 and September 7 disclosed that the firm did not buy or sell any Bitcoin. It did not sell shares under its at-the-market program either.

… Continue reading the full article at the original source below.