Key facts
- Strategy spent $176.3 million on stock buybacks in the week ending September 7.
- The company's board increased the digital credit securities repurchase program to $2 billion.
- No Bitcoin was purchased during the specified week.
- Strategy holds 845,050 BTC, with an average purchase price of $75,412 per coin.
- Strategy's Chair and CEO requested MSCI withdraw a rule that could remove the company from global benchmarks.
Strategy, a Bitcoin treasury company, repurchased 1,810,885 shares of its digital credit securities for $176.3 million in the week ending September 7, according to a company filing. This pause in Bitcoin acquisition followed a significant purchase the previous week, marking the end of a two-month drought in BTC buying. The company's board also doubled the authorization for its digital credit securities repurchase program from $1 billion to $2 billion, with $1.19 billion remaining available as of September 7. Strategy did not buy or sell any Bitcoin during the period, nor did it sell shares under its at-the-market offering program. The company currently holds 845,050 BTC, acquired at an average cost of $75,412 per coin, totaling $63.73 billion. With Bitcoin trading around $77,760, the holdings are valued at approximately $65.7 billion, representing an unrealized gain of about 3%. The recent purchase of Bitcoin at $80,318 per coin is currently under water. Strategy's treasury includes $5.10 billion in USD Reserve and $1.44 billion in USD Cash, from which the recent buybacks were funded. In a separate development, Strategy's Chair Michael Saylor and CEO Phong Le have requested MSCI to withdraw an index rule that could remove Strategy from its global benchmarks, citing discrimination. MSCI's consultation on the rule closes at the end of September, with a decision expected on October 16.