Strategy Begins STRC Share Buybacks, Boosts Cash Reserves to $3.75 Billion

Strategy Inc. announced in its latest SEC Form 8-K filing that it repurchased 288,930 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) for an aggregate purchase price of $25.0 million during the week of July 20 to July 26, 2026. This marks the first activity under the company’s $1 billion Digital Credit Securities Repurchase Program. No shares of STRF, STRK, STRD, or Class A common stock (MSTR) were repurchased in the period. Approximately $975.0 million remains available for preferred stock repurchases.

The company also continued its at-the-market (ATM) offering program, selling approximately 5.43 million shares of MSTR and generating around $544.5 million in net proceeds. Combined with prior activity, this has lifted Strategy’s USD cash reserves to a robust $3.75 billion, providing 2.1 years of coverage to support dividends on its preferred stocks—including STRC—even in the event of a total collapse in Bitcoin’s price. Strategy neither bought nor sold any Bitcoin during the week, leaving its holdings unchanged at 843,775 BTC.

This development follows recent equity issuances that steadily built the cash position. While many investors continue to call for aggressive Bitcoin accumulation, Strategy’s dual approach of common stock sales and targeted preferred stock buybacks demonstrates ongoing active capital management. The STRC repurchases, conducted at levels management views as accretive, reduce future dividend obligations and strengthen the capital structure without drawing on the USD Reserve.

By relying on equity issuance rather than liquidating Bitcoin, Strategy continues to fortify its buffer against market volatility while beginning to opportunistically repurchase its own digital credit securities. This further extends its lead in financial resilience and directly addresses concerns regarding dividend sustainability on instruments like STRC.

This represents another net positive for long-term investors. With ample and growing cash on hand plus remaining repurchase capacity, the company can weather prolonged downturns aligned with the typical four-year Bitcoin cycle. This financial resilience should help support investor confidence and preserve capacity for renewed Bitcoin purchases when conditions warrant.

Michael Saylor’s Strategy continues to balance its Bitcoin-centric vision with disciplined capital management. By steadily fortifying its USD reserves through common stock sales, initiating STRC buybacks, and preserving its vast Bitcoin treasury, the company is positioning itself to meet dividend obligations reliably while pursuing opportunistic growth. This balanced approach is likely to reassure shareholders and strengthen the overall appeal of Strategy’s digital credit ecosystem in the months ahead.