Strategy shifts capital focus to a $2 billion preferred share buyback program, pausing Bitcoin acquisitions while lobbying MSCI to retain its inclusion in global benchmark indexes.
Strategy utilized $176.3 million from its USD Cash pool to repurchase 1,810,885 shares of its variable rate perpetual stretch preferred stock (STRC). Furthermore, the board has doubled the digital credit securities repurchase authorization from $1 billion to $2 billion to support ongoing capital allocation strategies.
The company spent $176.3 million to repurchase 1,810,885 shares of STRC.
Strategy refrained from repurchasing its own common stock during the period and is currently focused on lobbying MSCI to prevent the removal of MSTR from global benchmark indexes. The company argues that the proposed index rule is discriminatory, noting that funds tracking these indexes currently hold 3.1% of its basic shares.
Strategy is seeking to withdraw an index rule that would result in the removal of MSTR from global benchmarks, which they claim is discriminatory.
Strategy has paused its Bitcoin accumulation strategy, reporting zero purchases for the week ending September 7 after a brief resumption of buying. The company currently maintains a total holding of 845,050 BTC, which reflects an unrealized gain of approximately 3% based on current market prices.
As of September 7, the company holds 845,050 BTC.
Strategy halted its Bitcoin accumulation in the week ending September 7, opting instead to deploy $176.3 million toward repurchasing its own preferred shares. The firm doubled its digital credit securities buyback authorization to $2 billion while maintaining its total Bitcoin holdings at 845,050 BTC. Management also petitioned MSCI to prevent the company's removal from global benchmark indexes.
The company opted to prioritize capital allocation toward its preferred share buyback program, spending $176.3 million on STRC shares during the week ending September 7.
Strategy's leadership has formally requested that MSCI withdraw a proposed rule change that would result in the company's removal from global benchmark indexes, citing discriminatory practices.