Strategy Skips Bitcoin Again, Buys Back $25M of STRC Stock

Bitcoin Magazine Strategy Skips Bitcoin Again, Buys Back $25M of STRC Stock Bitcoin treasury Strategy on Monday announced that it had again skipped buying Bitcoin, instead buying back its own preferred stock, Stretch (STRC), for $25 million.

In a filing and post on X, the company said it sold 5,429,160 shares of MSTR common stock through its at-the-market program between July 20 and July 26, generating $544.5 million in net proceeds.  It was the first time the company did a buyback of its STRC product, one of the firm’s several products that gives investors exposure to Bitcoin via shares that pay a dividend.   The company still holds 843,775 Bitcoins on its balance sheet — worth over $55 billion at today’s price of $65,576 per coin.  The Bitcoin buying pause is the fifth in a row.

Strategy has leaned on dollar accumulation over fresh Bitcoin buys across recent weeks, a shift from the aggressive purchases that defined much of its history.

The firm now has $3.75 billion in cash that will not be used to fund repurchases, according to a filing.  Strategy has said that its buyback plan — approved earlier this month — is about balance-sheet strength rather than retreat.