Strategy pauses Bitcoin buys, doubles buyback plan

Strategy doubled its Digital Credit Securities Repurchase Program to $2 billion on Sept. 8 after spending $176.3 million buying back STRC preferred shares instead of acquiring more Bitcoin. Summary Strategy purchased no Bitcoin and sold no ATM shares during the latest weekly reporting period. The company spent $176.3 million repurchasing 1,810,885 shares of its STRC preferred stock during week. Strategy doubled its digital credit securities repurchase authorization from $1 billion to $2 billion total. Bitcoin holdings remained at 845,050 coins, acquired for $63.73 billion including fees and expenses collectively. Dollar reserves totaled $5.10 billion, while deployable USD Cash stood at $1.44 billion separately reported. The company disclosed in an SEC filing that it repurchased 1,810,885 STRC shares between Aug. 31 and Sept. 7. It used existing USD Cash to finance the transaction. Strategy did not buy or sell Bitcoin during the period. It also sold no common or preferred shares through its at-the-market offering programs. The weekly activity left Strategy with approximately 845,050 BTC. The company acquired those holdings for $63.73 billion, including fees and expenses, at an avera...