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 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.