Strategy hits a 5 week pause on Bitcoin, using $25M to quietly buy back its own discounted stock

Strategy (formerly MicroStrategy) has begun buying back its STRC preferred stock as the Bitcoin treasury company shifts more capital toward supporting its financing structure.

In a July 27 SEC update, Strategy said it purchased 288,930 STRC shares for $25 million between July 20 and July 26, marking the first disclosed use of a $1 billion preferred-stock repurchase program approved last month.

The shares were acquired at an average price of $86.52, a sizeable discount to STRC’s $100 stated amount.

The move comes during Strategy’s longest pause in its once-regular Bitcoin accumulation. The firm has not purchased a single BTC for the past five weeks, its longest hiatus since 2024.

Despite this pause, the Michael Saylor-led company remains the largest public holder of the top crypto with 843,775 BTC. They were acquired at an average purchase price of $75,476 per Bitcoin, or $63.69 billion.

STRC discount pushes Strategy toward direct support

The STRC repurchase follows a prolonged period of weakness in the variable-rate perpetual preferred stock, which Strategy intends to keep trading close to its $100 stated amount.

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