TLDR
- Strategy repurchased $139 million of STRC preferred shares on September 14
- Since July 20, buyback spending has reached $950.8 million, more than double what the company spent on Bitcoin in the same period
- Strategy’s Bitcoin holdings stand at 845,050 BTC, worth close to $65.83 billion
- About $1 billion remains available under the company’s buyback authorization
- Strategy’s stock trading volume has grown roughly 13 times since 2023
Strategy repurchased $139.3 million worth of its STRC preferred shares on September 14. The purchase covered 1,420,467 shares bought between September 8 and September 13.
The company funded the buyback entirely from its USD Cash balance. It did not buy or sell any Bitcoin during that reporting window.
Since July 20, Strategy has spent $950.8 million buying back STRC shares. That is more than double the $369.7 million it spent acquiring Bitcoin over the same stretch.
For every dollar spent on Bitcoin since July 20, Strategy spent about $2.57 buying back STRC shares. The company’s only Bitcoin purchase in that period came between August 24 and August 30, when it bought 4,603 BTC.
Where The Cash Is Going
Strategy keeps two separate cash pools. Its USD Cash balance, used for flexible spending like buybacks, stood at $1.3 billion as of September 13.
Its USD Reserve, set aside for preferred dividends and debt interest, held $5.10 billion. That reserve cannot be used for STRC repurchases under company policy.
Strategy has said buying STRC shares below their $100 stated value can lower future dividend costs at a discount. Purchases are expected to slow as the share price nears $100, though timing stays flexible.
Earlier in the campaign, Strategy sold Bitcoin to help cover these costs. Between July 27 and August 2, it sold 1,638 BTC for $52.4 million in dividend payments and $52.3 million in STRC purchases.
The following week, it sold another 1,690 BTC for $108.6 million, using the proceeds entirely for STRC buybacks.
The company’s board doubled its preferred-share repurchase authorization to $2 billion on September 8. About $1 billion of that remains unused as of September 13.
Strategy still holds 845,050 BTC. That stake is worth roughly $65.83 billion at current prices.
Liquidity Growth Since 2023
STRC’s Bitcoin credit cushion now sits at 57 basis points. The figure is based on assumptions of 10 percent annual Bitcoin returns, 40 percent volatility, and a Bitcoin price of $77,266.
Strategy’s stock trading volume has grown a lot since 2023. Average daily dollar volume was about $300 million a year between 2020 and 2023.
That number jumped to $3.8 billion in 2024 and $4.7 billion in 2025. Through September 11, 2026, it stands at $2.8 billion, marking about a 13 times increase from the earlier period.
Strategy shares traded at $130.97, up 1.87 percent over the past day. STRC shares traded at $98.64, up 0.68 percent.
Bitcoin traded at $77,850.93, up 1.4 percent over the same 24 hours. The move came a day after Michael Saylor again described Bitcoin as a form of digital capital and a possible global reserve asset.
