Strategy Inc., the largest corporate holder of Bitcoin, reported no purchases or sales of the cryptocurrency during the week of August 31 to September 7. The company instead directed capital toward repurchasing its Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC, and significantly expanded the related buyback authorization.

According to a regulatory filing, Strategy acquired 1,810,885 STRC shares for an aggregate $176.3 million. The firm funded the transactions from its USD Cash balance. As of September 7, that cash position stood at $1.44 billion, while the separate USD Reserve totaled $5.10 billion.

Bitcoin Holdings Remain Unchanged

Strategy’s Bitcoin position stayed at 845,050 BTC, acquired at a total cost of approximately $63.73 billion and an average price of $75,412 per coin. The company made no sales of Bitcoin during the period and did not issue shares under its at-the-market equity programs.

The pause followed a recent return to accumulation. In the prior week Strategy purchased 4,603 BTC for roughly $370 million, its first acquisition since mid-June. Earlier in the summer the company had sold approximately 6,916 BTC.

Preferred Stock Buyback Program Expanded

The board approved an increase in the Digital Credit Securities Repurchase Program from $1 billion to $2 billion. The authorization covers STRC along with other preferred series. Management has prioritized STRC shares trading below their $100 par value, viewing the repurchases as accretive by retiring future dividend obligations at a discount.

STRC traded near $97 to $97.70 in recent sessions, a discount of roughly 2 to 3 percent to par. The preferred security has recovered more than 5 percent over the past month from earlier lows near $76.

Strategy’s common shares, traded under the ticker MSTR, declined more than 3 percent on the day of the announcement and were quoted around $138. The stock had advanced approximately 45 percent over the preceding month alongside Bitcoin’s rebound from the mid-$60,000 range, though it remained lower on a year-to-date basis.

Divergent Approaches Among Corporate Treasuries

While Strategy paused accumulation, other firms continued to add Bitcoin. Strive purchased 1,375 BTC for approximately $109 million at an average price of $79,281, lifting its total holdings to 24,531 BTC. The prior week Strive had acquired 1,800 BTC. Capital B also disclosed a $25 million purchase of 376 BTC, bringing its holdings to 3,521 BTC.

Bitcoin traded near $78,400 to $78,500 on Tuesday, modestly above Strategy’s overall average cost basis and below Strive’s most recent acquisition price. Market participants watched price action ahead of the Federal Reserve’s mid-September policy meeting.

Strategy has described its evolving capital framework as a means to support preferred securities, maintain liquidity, and preserve long-term Bitcoin exposure. The latest actions illustrate a shift in near-term priorities from additional coin purchases toward management of the preferred-stock structure built around its existing treasury.