Strategy pauses Bitcoin buys to spend $139M on share repurchases

Strategy, formerly known as MicroStrategy, has shifted its recent capital allocation from Bitcoin acquisitions to repurchasing its own STRC preferred shares. The firm spent $139 million on these buybacks, marking its second consecutive week without purchasing Bitcoin. As of mid-September 2026, the company holds 845,050 BTC.

In addition to its treasury moves, the company released an investor guide focused on risk management and survival. The document highlights historical volatility, noting that Bitcoin has previously experienced a 93.1% decline and an annual loss of 83.6%. The guide emphasizes that long-term accuracy in predicting Bitcoin's value does not protect investors from short-term risks such as leverage, counterparty insolvency, or forced liquidations.

Market volatility remains high as Bitcoin trades near $76,800. Investors are also closely monitoring the U.S. Senate, where a cloture vote on the CLARITY Act is expected to impact the regulatory landscape for digital assets.