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Strategy bought no Bitcoin in the week to September 7, a week after ending a two-month BTC purchasing drought, and spent $176.3 million buying back its own preferred stock instead, the Bitcoin treasury company said in a filing on Tuesday.
All of it went on STRC, the variable rate perpetual stretch preferred, at 1,810,885 shares. Strategy repurchased none of its STRF, STRK or STRD preferreds and none of its MSTR common stock, and funded the buying from its USD Cash pool.
Its board has doubled the authorization behind that spending, lifting the digital credit securities repurchase program from $1 billion to $2 billion. As of September 7, $1.19 billion of it remained available. A separate $1 billion program for MSTR stock is untouched.
The company bought and sold no Bitcoin over the period, and sold no shares under its at-the-market offering program either. It holds 845,050 BTC, bought for $63.73 billion at an average of $75,412 each including fees.