- Strategy did not buy or sell any Bitcoin last week, leaving its holdings unchanged at 845,050 BTC worth approximately $66.1 billion.
- The company instead repurchased 1.81 million STRC preferred shares for roughly $176.3 million and doubled its digital credit securities repurchase program to $2 billion.
- Strategy’s Bitcoin position represents more than 4% of BTC’s 21 million supply cap and carries approximately $2.4 billion in unrealized gains at current prices.
Strategy paused its Bitcoin accumulation last week, keeping its massive treasury unchanged at 845,050 BTC.
The company did not buy or sell any Bitcoin during the period, according to an 8-K filing with the Securities and Exchange Commission on Tuesday.
Strategy’s holdings are currently worth approximately $66.1 billion and represent more than 4% of Bitcoin’s maximum 21 million supply.
At current prices, the company is sitting on approximately $2.4 billion in paper gains from its Bitcoin position.
Strategy Repurchases $176 Million of STRC
Instead of adding more Bitcoin, Strategy used cash to repurchase 1.81 million shares of its STRC preferred stock for approximately $176.3 million.
The company also doubled the size of its digital credit securities repurchase program from $1 billion to $2 billion.
Strategy funded the transactions through its USD Cash reserve.
As of Sept. 7, the company reported a USD Reserve balance of $5.1 billion and another $1.44 billion in USD Cash.
Strategy Defends Its Bitcoin Trading Strategy
The pause follows a period of significant changes to Strategy’s balance sheet.
CEO Phong Le recently defended the company’s earlier decision to sell roughly 7,000 BTC between $60,000 and $65,000 to fund preferred dividends, calling it the right trade at the time.
Strategy then paused Bitcoin purchases for approximately 10 weeks while strengthening its balance sheet. According to Le, the company reduced net debt from around $7 billion to zero while building roughly $7 billion in total cash reserves.
The company returned to the market between Aug. 24 and Aug. 30, purchasing 4,603 BTC for approximately $369.7 million at an average price of $80,318 per Bitcoin.
Strategy Pushes Back Against MSCI
Strategy is also challenging an MSCI proposal that could exclude certain companies holding large amounts of non-operating assets from its Global Investable Market Indexes.
In a letter signed by Executive Chairman Michael Saylor and Le, Strategy called the proposal “discriminatory, arbitrary, and misguided” and argued that it effectively targets digital asset treasury companies.
Strategy remains by far the largest publicly traded corporate Bitcoin holder.
Twenty One follows with 43,514 BTC, while Metaplanet holds 43,000 BTC, MARA owns 35,577 BTC and Bitcoin Standard Treasury Company holds 30,021 BTC.
Strategy shares gained 6.6% last week to close Friday at $142.80. The stock is now down 7.6% year to date, while Bitcoin gained 1.8% over the same week.
