Strategy Stops Buying Bitcoin and Drops $139M on STRC Instead

Key Takeaways

• Michael Saylor's Strategy bought no Bitcoin for a second consecutive week, leaving its holdings unchanged at 845,050 BTC.

• Instead, the company spent $139.3 million repurchasing 1.42 million shares of its STRC preferred stock between Sept. 8 and Sept. 13.

• Longtime Bitcoin critic Peter Schiff has intensified his attacks on Strategy and Saylor, arguing that the company's capital structure is under mounting pressure.

Strategy has once again passed on buying Bitcoin, instead directing another $139 million toward supporting its preferred stock.

The Michael Saylor-led company repurchased 1,420,467 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for approximately $139.3 million between Sept. 8 and Sept. 13, according to its latest filing.

The purchases were funded entirely from Strategy's USD Cash reserve. The company did not buy or sell any Bitcoin during the period, marking the second consecutive week that its BTC holdings remained unchanged.

Strategy Puts $139M Into STRC, Not Bitcoin

Strategy currently holds 845,050 BTC, acquired for roughly $63.73 billion at an average purchase price of $75,412 per coin. Its last purchase came in late August, when it acquired 4,603 BTC for $369.7 million.