Strategy Doubles Preferred-Stock Buyback Program to $2 Billion

According to BlockchainReporter, Strategy Inc. doubled the authorization for its preferred-stock repurchase program to $2 billion on September 8. In a Form 8-K filed with the U.S. Securities and Exchange Commission, the company stated that $1.19 billion remained available under the Digital Credit Securities Repurchase Program as of September 7. Between August 31 and September 7, Strategy spent $176.3 million repurchasing 1,810,885 shares of its variable-rate Series A perpetual Stretch preferred stock, traded as STRC, using USD Cash.

Strategy reported no repurchases of STRF, STRK, STRD, or MSTR common stock during the same period. The company ended the week with a combined $6.54 billion in cash accounts, consisting of a $5.10 billion USD Reserve and $1.44 billion of USD Cash. Furthermore, Strategy reported no bitcoin purchases or sales during the week, maintaining its total holdings at 845,050 BTC. The company's aggregate cost for these bitcoin holdings stands at $63.73 billion, with an average cost of approximately $75,412 per coin, including fees and expenses.