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Strategy has not purchased Bitcoin this week, instead directing $176.3 million to repurchase its own preferred stock, according to a September 8 filing signed by general counsel Thomas C.
The company spent the entire amount on STRC, its variable-rate perpetual preferred stock, buying it at a discount to its $100 par value.
Strategy did not buy or sell Bitcoin during this period, leaving its holdings unchanged at 846,000 coins.
The filing reveals that Strategy is prioritizing the management of its capital structure over adding to its digital asset reserve. The move comes after a roughly 10-week pause in Bitcoin purchases.
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