Strategy Skips Bitcoin (BTC) Buys, Redirects $176M Into STRC Buyback

Strategy Pauses BTC Purchases for STRC Buyback

Strategy, the largest corporate holder of Bitcoin (BTC), bought and sold nothing last week, according to an 8-K filed Tuesday with the US Securities and Exchange Commission. Instead, the company spent $176.3 million repurchasing 1,810,885 shares of its STRC preferred stock between Aug. 31 and Sept. 7, and doubled the approved cap on its Digital Credit Securities Repurchase Program from $1 billion to $2 billion. With no trades in the underlying asset, holdings stood at 845,050 BTC as of Sept. 7 — an aggregate cost of $63.6 billion at an average price of $75,412 per coin. The company's official announcement also disclosed $6.5 billion in dollar-denominated assets, split between a $5.1 billion USD reserve and $1.44 billion in cash.

official announcementhttps://x.com/strategy/status/2097294603942515120

From Selling Spree to Reaccumulation

The flat week marks a pause after a busy stretch. In the prior window (Aug. 24–30), Strategy returned to the market for the first time since June 22, buying 4,603 BTC for roughly $369.7 million at an average of $80,318 — its first purchase since a 520 BTC buy at $67,068 in late June. That re-entry was funded through an at-the-market offering of 4,531,421 Class A shares, which netted about $602.8 million. The backstory matters: earlier in the year the company sold roughly 7,000 BTC at $60,000–$65,000 to cover preferred dividends, then paused accumulation for about 10 weeks while cutting net debt from around $7 billion to effectively zero — a balance-sheet detour rare among firms that preach the HODL playbook.

STRC Trades Below Par

The buyback signals pressure inside Strategy's preferred-stock stack. STRC — one of four perpetual preferred series alongside STRF, STRK and STRD — carries a 12% annual dividend under the capital framework unveiled June 29, yet it traded at $97.70 in premarket Tuesday, a 2.3% discount to its $100 par value. Trading below par crimps the company's ability to raise fresh capital through STRC issuance and could force yet another dividend bump. In the same filing, Strategy put its BTC Credit metric at 53 basis points, down 1 bp, assuming a 10% annual BTC return, 40% volatility and a $79,809 price input. MSTR shares fell more than 3% in Tuesday trade. Separately, Michael Saylor and CEO Phong Le signed a letter pushing back on MSCI's proposal to exclude heavy holders of “non-operating assets” from its global indices, calling the consultation “discriminatory and arbitrary” while conceding the business impact would be limited.

Strive and Capital B Keep Accumulating

Rivals show no such hesitation. Strive, the fifth-largest strategic bitcoin reserve among public companies, added 1,375 BTC for $109 million at an average of $79,281, lifting its stack to 24,531 coins — a move CEO Matt Cole confirmed on X on Monday. ASST shares slipped more than 2.5% premarket after doubling over the past month. France-listed Capital B disclosed a $25 million purchase, its largest in nearly a year, pushing it past H100 Group among listed holders. The broader corporate Bitcoin treasuries cohort now counts 197 listed companies running the model, led by Strategy, then Twenty One with 43,514 BTC, Metaplanet with 43,000, MARA with 35,577 and Bitcoin Standard Treasury Company with 30,021. Each functions as a leveraged whale whose flow decisions move spot liquidity. Readers tracking the market in real time can follow live spot and futures prices on Bitget.

confirmed on Xhttps://x.com/ColeMacro/status/2097295352051401160

$81,360 Ceiling in Focus

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $79,276 and $81,360 resistance shelves at 79/100 each — the first built on the Ichimoku Tenkan, Pivot Point and Fibo 0.114 confluence, the second on Fibo 0.000, Donchian Upper, Swing High and BB Upper. Nearest support at $77,648 scores 74/100 (Fibo 0.214, EMA 20, S3). Spot sits at $78,332, down 1.63% over 24 hours, after price earlier this week flirted with the $79,000 zone amid surging Fed rate-hike odds. Perpetual funding is a mild 0.0033%, open interest at $15.54 billion and the long/short account ratio at 1.38 (58.1% long) — long-skewed but not overheated, with the Fear & Greed Index at 69 (Greed) and a recent $119 million liquidation flush having cleared late longs. Bullish case: reclaiming $79,276 opens $81,360; the thesis invalidates on a daily close below $77,648.