Corporate treasury entity Strategy (MSTR) executed zero bitcoin transactions over the prior week, maintaining its aggregate balance at 845,050 BTC (valued at $66.1 billion), as disclosed in a Tuesday 8-K filing submitted to the Securities and Exchange Commission.
The firm’s reserves continue to represent over 4% of the ultimate 21 million bitcoin limit, translating to roughly $2.4 billion in unrealized gains based on current market valuations.
Instead, the business chose to buy back 1.81 million STRC preferred shares for approximately $176.3 million while expanding its digital credit securities buyback initiative from $1 billion up to $2 billion.
Management noted that these repurchases were funded through USD Cash reserves. As of September 7, the balances for the USD Reserve and USD Cash sat at $5.1 billion and $1.44 billion, respectively.
Strategy defends selling low and buying high
Last week, Strategy CEO Phong Le stated that offloading around 7,000 BTC between $60,000 and $65,000 constituted “the right trade at the time” to cover preferred dividend payments.
Following that, Strategy suspended bitcoin acquisitions for approximately 10 weeks to strengthen its balance sheet. Le reported that the company successfully brought net debt down from roughly $7 billion to zero while accumulating about $7 billion in aggregate cash reserves.
The organization subsequently secured 4,603 BTC for roughly $369.7 million spanning August 24 through August 30 at a mean rate of $80,318 per coin. “It’s the right trade at this point in time to sell MSTR at a premium to buy bitcoin,” Le remarked.
Strategy hits back at MSCI proposal
Strategy also pushed back against MSCI’s recent initiative aimed at removing particular “non-operating asset” companies from the MSCI Global Investable Market Indexes last week, characterizing it as a masked maneuver to expel digital asset treasury firms from these benchmarks.
Within a letter bearing the signatures of Saylor and Le, the corporation asserted that MSCI’s inquiry “is discriminatory, arbitrary, and misguided” and demands revocation.
“If enacted, the measure would create no substantive effect on Strategy’s operations, yet it would severely damage MSCI’s credibility as an objective and dependable index provider,” Strategy explained in the correspondence.
Based on metrics from Bitcoin Treasuries, 197 publicly traded entities have embraced a variation of the bitcoin accumulation framework. Tether-backed Twenty One, Metaplanet, MARA, alongside the Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company round out the top five, holding 43,514 BTC, 43,000 BTC, 35,577 BTC, and 30,021 BTC respectively.
Strategy’s equity advanced 6.6% overall throughout the prior week, finishing Friday at $142.80 according to The Block’s MSTR valuation tracker, leaving it down only 7.6% year-to-date following a notable rebound, despite remaining 56.7% lower across the trailing year. Bitcoin (BTC) gained 1.8% over that exact weekly timeframe.
Originally published at https://www.theblock.co/news/business/2026-09-08-strategy-bitcoin-strc-repurchase-program-413678.
