Strategy sold 1,690 BTC for $108.6 million to fund its largest weekly buyback yet of its STRC preferred stock, which has climbed to about $95 as it nears its $100 target. The company has sold 3,328 BTC for about $213.3 million over two weeks while spending $189.8 million on STRC repurchases, and it still has $785.2 million of authorized buying capacity left.
Strategy sold 1,690 BTC for $108.6 million during the week ended Aug. 9, funneling the proceeds into its largest weekly purchase yet of its STRC preferred stock. The sale left Strategy's Bitcoin holdings at 840,447 BTC, down from 842,138 BTC a week earlier.
STRC traded around $95 on Monday, extending a recovery from its late-June low of about $74 as Strategy paired the buybacks with a 12% annualized dividend to narrow the security's discount. Over the past three weeks, Strategy has acquired roughly 2.3 million STRC shares worth about $214.8 million, with the latest purchase the largest of the three.
Bitcoin sales fund the buyback
The Aug. 9 sale followed a similar move a week earlier, when Strategy sold 1,638 BTC for $104.7 million. About $52.3 million of those proceeds went toward an $81.2 million STRC repurchase, with MSTR share issuance covering the remainder. Together, Strategy has sold 3,328 BTC for about $213.3 million over the past two weeks while spending $189.8 million on STRC during that span.
Strategy's remaining coins were acquired for $63.36 billion at an average price of $75,385. It has sold 6,948 BTC so far this year, reducing its holdings from a June peak of 847,363 BTC, though the decline remains small relative to its overall treasury.
Cash reserve climbs to $4.65 billion
Strategy also raised $653.1 million during the week by selling 6.5 million MSTR shares through its at-the-market program, directing $650 million of the proceeds into its US dollar reserve. That pushed the reserve to an all-time high of $4.65 billion, up from $4 billion a week earlier.
CEO Phong Le said: "Our USD Reserve and Duration are now at all-time highs." The addition extended the reserve's duration by another 143 days to about 2.7 years, according to Executive Chairman Michael Saylor. Strategy now holds enough dollars to cover nearly three years of its preferred dividends and debt interest obligations, easing the capital structure pressure tied to those payments.
STRC's final $5 could set the pace
Strategy still has $785.2 million available under the $1 billion buyback program it authorized in June. During its second-quarter earnings call, management noted that STRC took roughly 70 trading days to reach $100 after its 2025 launch, and applying a similar timeline would put STRC on course to return to par around Sept. 8. Strategy has already shown it will intervene when STRC trades materially below that level, though how much further support the security needs remains unclear.
Source: CryptoSlate
Trading involves risk.
Risk Disclaimer
