Strategy Opts for Stock Buyback Over Bitcoin Purchase

Strategy once again refrained from purchasing bitcoin during the past week. The Nasdaq-listed firm reported it bought $139 million of its STRC preferred shares instead.

According to a Monday filing with the Securities and Exchange Commission, the company repurchased 1.42 million STRC preferred shares for roughly $139.3 million from September 8 through September 13.

Strategy continues to hold 845,050 bitcoin valued at $66.2 billion at current prices. It also maintains two cash reserves: USD Reserve with $5.1 billion and USD Cash with $1.3 billion.

Strategy has repurchased $139M of $STRC. As of 9/13/26, we hold 845,050 $BTC and $6.4B of USD Assets. $MSTRhttps://t.co/awLZ666Nuq

— Strategy (@Strategy) September 14, 2026

The largest corporate bitcoin holder, Strategy, changed its approach this year, moving away from consistent bitcoin purchases to stock buybacks and building up cash reserves.

At times, Strategy has sold small amounts of its bitcoin holdings, even though founder Michael Saylor has famously advised to "never sell your bitcoin."

Following a ten-week pause, the company resumed bitcoin purchases in the last week of August, acquiring close to $370 million of the top digital asset.

No further bitcoin acquisitions have occurred since then.

Strategy's Nasdaq-listed shares (MSTR) traded 3% higher on Monday. The stock has fallen more than 75% from its November 2024 record high, reached one month before bitcoin surpassed the long-anticipated $100,000 level.

Strategy, previously known as MicroStrategy, is an enterprise software firm that shifted to accumulating and holding bitcoin in 2020.

Initially, it acquired bitcoin to safeguard shareholders against inflation, but since then it has aggressively accumulated the asset and transformed into a bitcoin treasury company.

The company has justified its recent bitcoin sales. CEO Phong Le stated that the firm now possesses a "bullet-proof balance sheet."

In its July quarterly earnings, Strategy reported an $8.22 billion loss. However, Le reassured investors that the paper loss was not a concern.

"We're the J.P. Morgan of the crypto economy, so whether we sell 1,000 bitcoin out of 840,000 to me is irrelevant to the conversation," Le said in a subsequent interview.