Michael Saylor Skips Bitcoin Again — Why Strategy Just Spent $176M on Its Own Stock

Michael Saylor and Strategy skipped another Bitcoin purchase last week—but they were hardly sitting on cash. Instead, the company spent $176.3 million repurchasing its own STRC preferred shares and doubled its authorized digital-credit buyback program to $2 billion.

The move may look strange for a company built around accumulating as much Bitcoin as possible. But Michael Saylor did not suddenly abandon his BTC▲$62,630.00 strategy. Rather, he is trying to repair and strengthen the financing machinery that helps Strategy raise money for future Bitcoin purchases.

Related: Strategy Skips Bitcoin Sales, Buys Back $132M of STRC Instead

Strategy Bought No Bitcoin Last Week

According to Strategy’s September 8 filing, the company neither bought nor sold Bitcoin between August 31 and September 7.

Its holdings therefore remained unchanged at 845,050 BTC, acquired for approximately $63.73 billion at an average price of $75,412 per Bitcoin.

The pause came only one week after Strategy ended a roughly two-month Bitcoin buying drought. Between August 24 and August 30, it purchased 4,603 BTC for $369.7 million at an average price of $80,318.

That makes the latest pause notable—but not necessarily bearish.