TLDR
- Strategy repurchased $139.3 million of STRC preferred stock between Sept. 8 and Sept. 13, funded entirely from its USD Cash reserve.
- Bitcoin holdings remained unchanged at 845,050 BTC ($65.7 billion) for the second week in a row.
- The company’s USD Cash reserve stood at $1.3 billion as of Sept. 14, down from $1.44 billion the prior week.
- Michael Saylor has stopped posting his regular Sunday Bitcoin tracker updates, which previously signaled upcoming BTC purchases.
- An MSCI index ruling expected Oct. 16 could strip Strategy of its benchmark weighting, potentially shifting billions in passive fund flows.
Strategy’s common stock dropped 4.7% last week, closing at $130.97 on Friday, as the company paused bitcoin buying for the second consecutive week and redirected capital toward preferred stock repurchases.
Between Sept. 8 and Sept. 13, the company repurchased 1,420,467 STRC preferred stock units for $139.3 million, funded entirely from its USD Cash reserve.
That reserve stood at $1.3 billion as of Sept. 14, down from $1.44 billion the week prior. The decline tracks closely with the amount spent on STRC.
No STRF, STRK, or STRD preferred stock was repurchased during the period. A $1 billion common stock buyback authorization also went unused.
Strategy Skips Bitcoin Buying and Uses $139M to Repurchase STRC
Strategy said it neither bought nor sold Bitcoin and made no ATM share sales between September 8 and 13. Instead, the company spent $139.3 million in cash to repurchase about 1.42 million shares of its STRC… pic.twitter.com/YHWpfg9bE9
— Wu Blockchain (@WuBlockchain) September 14, 2026
The STRC buyback total of $139.3 million was down from $176.3 million deployed the prior week. Approximately $1.05 billion remains under the $2 billion digital credit securities repurchase program as of Sept. 13.
Strategy’s separate USD Reserve, restricted to preferred stock dividends and interest payments, held $5.1 billion as of Sept. 14.
Bitcoin Stack Unchanged for Second Week
Strategy’s total bitcoin position held at 845,050 BTC, acquired at an average cost of $75,412 per coin for a total of $63.73 billion. At current prices, the stack is valued at $65.7 billion, implying around $2 billion in unrealized gains.
The last BTC purchase came in late August, when Strategy acquired 4,603 BTC for $369.7 million. That was also the first purchase the company had made since June.
Bitcoin itself fell 3.9% during the same week Strategy’s stock declined.
Strategy’s holdings represent more than 4% of bitcoin’s total 21 million supply cap. According to Bitcoin Treasuries data, 197 public companies now hold BTC on their balance sheets.
The next four largest holders behind Strategy are Tether-backed Twenty One (43,514 BTC), Metaplanet (43,000 BTC), MARA (35,577 BTC), and Bitcoin Standard Treasury Company (30,021 BTC).
MSCI Ruling Adds Uncertainty
Michael Saylor has stopped posting his regular Sunday Bitcoin tracker updates on social media. Those posts had long served as an informal signal ahead of BTC purchase announcements.
Strategy is also waiting on a ruling from MSCI on a proposal that could remove companies classified as non-operating from global equity benchmarks. Public comment on the consultation closes Sept. 30, with a decision expected Oct. 16.
A change in classification could redirect billions in passive fund flows tied to Strategy’s current benchmark weighting.
Strategy’s internal credit dashboard shows STRC’s BTC Credit spread at roughly 57 basis points, which falls within its own investment-grade threshold of below 150 basis points. Its blended breakeven annualized return sits at 2.48%, with a duration of 40.3 years.
MSTR stock is still down around 71% from its 2025 peak, with an enterprise market-cap-to-NAV ratio of approximately 1.1.
Stop guessing and start investing with confidence. KnockoutStocks gives you the AI insights, market intelligence, and stock research you need to spot opportunities, cut through the noise, and make smarter investment decisions — all in one powerful platform.
Sign up today and get 50% OFF full access to our premium stock picks.
Simply use coupon code SPECIAL50 at checkout to claim your exclusive discount.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
