Strategy Inc has raised its USD cash reserves to $4 billion and spent $81 million buying back its own STRC preferred stock, which has been trading below par value. The company still holds 842,138 BTC, acquired at an average cost of roughly $75,419 to $75,482 per coin, with the cash buildup coming largely from common-stock sales.
Strategy Inc, the company formerly known as MicroStrategy, has pushed its USD cash reserves to $4 billion while spending $81 million to repurchase shares of its own preferred stock, STRC. The firm also holds 842,138 BTC, acquired at an average cost of approximately $75,419 to $75,482 per coin.
Strategy buys back STRC below par value
Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock, shortened to STRC, is a preferred equity instrument that pays a 12% annual dividend distributed semi-monthly in cash. The company announced its first round of buybacks on July 27, 2026, after repurchasing 288,930 shares for roughly $25 million between July 20 and 26, at an average price of about $86.52 per share.
The total STRC repurchase has since reached $81 million, part of a larger $1 billion buyback program the company has authorized. Because STRC trades below its par value, every share Strategy buys back retires a future dividend obligation at a discount.
USD reserves climb on common-stock sales
Since launching its preferred stock products in early 2025, Strategy has paid out over $693 million in preferred distributions. Meanwhile, its $4 billion in USD reserves has been bolstered primarily through common-stock transactions, separate from its 842,138 BTC position.
Concentration risk remains the watch point
For STRC holders, the buyback creates a natural price floor, since Strategy is an active buyer around $86.52 per share on top of the 12% yield. But the company's broader thesis is a leveraged bet on Bitcoin's long-term appreciation, financed through instruments like STRC and common-stock offerings — a concentration risk investors should watch. The $1 billion buyback authorization signals management's confidence in its liquidity position to keep shrinking its preferred-stock footprint.
Source: Crypto Briefing
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