Strategy buys back $139M of STRC, Bitcoin holdings unchanged

Photo: Rafael Minguet Delgado / Pexels

Strategy Inc., formerly known as MicroStrategy, has repurchased approximately $139 million of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), according to Decrypt Media. This buyback comes amid a two-week period where the company’s Bitcoin holdings have remained unchanged at 845,050 BTC. The decision to allocate corporate cash towards STRC rather than altering its Bitcoin position suggests a strategic focus on supporting preferred stock. The market response indicates an increase in perceived confidence in STRC’s potential performance.

Key Takeaways

• Strategy’s repurchase of $139 million in STRC suggests strong confidence in the asset’s potential, which could be driving market participants to increase the perceived likelihood of STRC hitting $100.
• The unchanged Bitcoin holdings for a second consecutive week may indicate a strategic shift in capital allocation, focusing resources on preferred stock rather than expanding Bitcoin assets.
• Market pricing suggests a moderate increase in the odds of STRC achieving the $100 mark by the end of 2026, with current odds at 80.5% for December 31.

What to Watch

Observers will be monitoring any further announcements from Strategy regarding additional buybacks or changes in Bitcoin holdings, as these could significantly impact market perceptions and pricing. The upcoming resolution date for STRC hitting $100 by September 30, currently priced at 33% YES, will be a key indicator of short-term market sentiment. Further developments or strategic announcements from CEO Michael Saylor could influence the market’s outlook on both STRC and Bitcoin.

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