Strategy pauses Bitcoin buys to focus on $2 billion stock repurchase program

Strategy Inc., the world’s largest corporate Bitcoin holder, has paused its Bitcoin accumulation to focus on capital management. According to an SEC filing, the company made no Bitcoin purchases or sales between August 31 and September 7.

Instead, the firm deployed $176.3 million to repurchase 1,810,885 shares of its STRC preferred stock. The company is targeting the $100 par value of these shares, which have recently traded at a discount. To support this strategy, the board doubled the authorization for its Digital Credit Securities Repurchase Program from $1 billion to $2 billion.

As of September 7, Strategy holds 845,050 BTC, acquired at an average cost of approximately $75,412 per coin. The company maintains a $5.10 billion USD Reserve and $1.44 billion in USD Cash to manage its capital structure and dividend obligations.