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Strategy bought back STRC preferred shares for $25 million

The company purchased 288,930 STRC shares at an average $86.52, while it has paused BTC buys for five weeks.

Reported · Written up by our desk · Market Structure

Strategy, formerly known as MicroStrategy, started using part of its preferred stock capital plan to repurchase its STRC preferred shares, according to a July 27 SEC update cited by CryptoSlate.

The filings say Strategy bought 288,930 STRC shares for $25 million between July 20 and July 26, at an average price of $86.52. That compares with STRC’s $100 stated amount, meaning the shares were acquired at a notable discount.

The repurchases come as Strategy’s Bitcoin accumulation hit its longest pause in its once-regular buying program, with no BTC purchases for the past five weeks, the report says. Even during the hiatus, Strategy remains the largest public holder of Bitcoin with 843,775 BTC.

CryptoSlate also notes that STRC has been trading below its target around $100, complicating Strategy’s role for STRC as a financing instrument because it says it will not issue new shares below $100. STRC currently carries a 12% annualized dividend rate, and management plans to recommend keeping it until the shares trade sustainably near $100, supported by ongoing, disciplined STRC buybacks when the discount widens.

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