Strategy repurchases 1.55M shares for $152M, boosts cash reserves to $1.61B

Strategy spent roughly $151.8 million buying back its own preferred stock last week, and walked away from the transaction with more cash, more Bitcoin, and fewer financial obligations hanging over its balance sheet.

The company repurchased 1,557,177 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, the ticker known as STRC, during the week ending August 30, 2026. The average price paid came in near $97.48 per share, below the $100 par value at which those shares were originally issued.

How the math worked

Strategy funded the entire STRC repurchase through at-the-market sales of its common shares (ticker: MSTR), selling 4,531,421 shares and raising $602.8 million in the process.

That $602.8 million did more than cover the buyback. Strategy also allocated $369.7 million of those proceeds toward Bitcoin purchases and dividend payments, adding 4,603 BTC to its holdings during the period.

The STRC repurchase was conducted under the company’s $1 billion Digital Credit Securities Repurchase Program, a framework the board approved on June 29, 2026, specifically designed to retire preferred stock opportunistically when it trades below par. After this transaction, $364.8 million remains available under that authorization.

A separate $1 billion common stock buyback program also remains fully intact.

Where Strategy stands now

Following all the activity, Strategy’s USD cash liquidity rose to $1.61 billion. Stack that alongside a separate USD Reserve of $5.10 billion, and the company’s total liquidity pool lands around $6.71 billion.

Bitcoin holdings now sit at 845,050 BTC, reflecting the incremental purchases made during the same week.

The preferred stock being retired here carries a variable rate, meaning its dividend cost to Strategy fluctuates. Buying those shares back below par locks in a small accounting gain while also eliminating future variable dividend obligations.

Why this structure matters

Strategy has built one of the more complicated capital stacks in publicly traded markets, layering common equity, preferred stock, and convertible notes on top of a Bitcoin-heavy asset base.

The common share sales funding all of this are worth noting separately. Selling 4.5 million MSTR shares to raise $602.8 million implies an average sale price well above $130 per share.

With $364.8 million still available under the preferred buyback authorization and another $1 billion earmarked for common stock repurchases, Strategy has considerable runway to continue shaping its capital structure.