Authored by Zoltan Vardai via CoinTelegraph.com,
Strategy repurchased $176 million worth of its STRC preferred stock and doubled the size of its digital securities repurchase program to $2 billion, while pausing on new Bitcoin buys.
Michael Saylor’s Strategy, the largest corporate Bitcoin treasury, skipped its weekly Bitcoin acquisition to repurchase $176 million of its preferred STRC stock.
Strategy repurchased 1.8 million STRC shares for an aggregate $176.3 million between Aug. 31 and Sept. 7, according to a Tuesday filing with the US Securities and Exchange Commission.
The company also doubled the size of its Digital Credit Securities Repurchase Program to $2 billion. With no new purchases, Strategy’s holdings sit at 845,050 Bitcoin (BTC), acquired for a total of $63.6 billion, at an average purchase price of $75,412 apiece.
Last week, Strategy made its first BTC buy since mid June, with a $370 million purchase.
While STRC’s share price was largely flat in premarket activity on Tuesday, trading at $97.70, or a 2.3% discount from its intended $1
