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Morning Edition · Wednesday, September 9, 2026Published at 1:46 AM EDT · New York
Strategy Buys No Bitcoin for a Second Week and Doubles Its Preferred-Share Buyback to $2 Billion
The company spent $176.3 million repurchasing STRC as Michael Saylor's 8 September recovery date arrived with the shares still below their $100 stated value, while rival Strive's SATA approaches a $1 billion market capitalization.
Strategy, the bitcoin treasury company formerly known as MicroStrategy, bought no bitcoin last week and instead spent $176.3 million repurchasing its STRC preferred shares, leaving its holdings at 845,050 bitcoin. The board then doubled the…
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Leveraged Bitcoin Treasury Vehicles Show Financing Strain
Over ~3-9 months, Bitcoin treasury companies face mounting financing stress as their funding instruments trade below par on dividend-coverage doubts, testing the sustainability of the debt/preferred-funded accumulation model.
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