Strategy Skips Bitcoin Again, Buys Back $25M of STRC Stock

Bitcoin Magazine

Strategy Skips Bitcoin Again, Buys Back $25M of STRC Stock

Bitcoin treasury Strategy on Monday announced that it had again skipped buying Bitcoin, instead buying back its own preferred stock, Stretch (STRC), for $25 million.

In a filing and post on X, the company said it sold 5,429,160 shares of MSTR common stock through its at-the-market program between July 20 and July 26, generating $544.5 million in net proceeds.

It was the first time the company did a buyback of its STRC product, one of the firm’s several products that gives investors exposure to Bitcoin via shares that pay a dividend.

The company still holds 843,775 Bitcoins on its balance sheet — worth over $55 billion at today’s price of $65,576 per coin.

The Bitcoin buying pause is the fifth in a row. Strategy has leaned on dollar accumulation over fresh Bitcoin buys across recent weeks, a shift from the aggressive purchases that defined much of its history. The firm now has $3.75 billion in cash that will not be used to fund repurchases, according to a filing.

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