Strategy Buys 0 BTC as Strive Adds $109M, Then Doubles Buyback Plan to $2B

Michael Saylor’s Strategy disclosed Tuesday that it bought or sold zero Bitcoin between Aug. 31 and Sept. 7 and made no sales through its at-the-market share programs. Instead, the company spent $176.3 million repurchasing STRC preferred stock and doubled its Digital Credit Securities Repurchase Program from $1 billion to $2 billion.

At almost the same time, Strive disclosed the purchase of 1,375 BTC at an average price of $79,281, an investment of roughly $109 million. The purchase lifted Strive’s treasury from 23,156 BTC to 24,531 BTC.

The contrast highlights how two prominent Bitcoin treasury companies are currently allocating capital very differently.

Strategy Puts $176M Into STRC Instead of Bitcoin

Strategy still dominates corporate Bitcoin ownership.

As of Sept. 7, the company held 845,050 BTC, acquired for approximately $63.73 billion at an average cost of $75,412. It last added 4,603 BTC for $369.7 million during the week ending Aug. 30.

But Strategy’s treasury model has become more active than its original one-way accumulation strategy. The company previously sold 6,916 BTC during the summer before returning to the market with that 4,603 BTC purchase.

This week, its priority shifted toward preferred securities.

Strategy repurchased 1,810,885 STRC shares for $176.3 million, after spending another $151.8 million on 1.56 million STRC shares the previous week.

The company now has another $1.19 billion available under its expanded Digital Credit Securities Repurchase Program. Its separate authorization for MSTR common shares remains at $1 billion.

Strategy also reported a $5.10 billion USD Reserve and another $1.44 billion of USD Cash. The latter can be deployed across Bitcoin purchases, reserves and broader capital-management purposes.

Strive Keeps Expanding Its Bitcoin Treasury

Strive, meanwhile, continues accumulating.

Its latest $109 million purchase followed an 1,800 BTC acquisition the prior week at an average $79,431, taking its holdings to 23,156 BTC before Tuesday’s update.

The new purchase raises that figure to 24,531 BTC, while cash and equivalents increased from $183.5 million to $202.6 million.

Strive has repeatedly challenged Strategy on weekly accumulation. In June, it bought $50 million of Bitcoin in a week when its purchase exceeded Strategy’s.

The difference is still enormous in absolute holdings: Strategy owns roughly 34 times more Bitcoin, but the latest filings show a notable divergence in priorities.

Bitcoin Falls Below Strategy’s Latest Purchase Price

Bitcoin was trading around $78,400-$78,500 Tuesday, down more than 1% and below $80,000 as investors turned cautious ahead of the Federal Reserve’s Sept. 16 decision.

<iframe src=”https://widgets.coincodex.com/w/1e8e4029-c037-4b02-bb20-ef2ea43e4585?site=coinpaper&mode=light” width=”100%” height=”420” frameborder=”0” style=”border:0;background:transparent;border-radius:0px;”></iframe>

That puts BTC only modestly above Strategy’s $75,412 aggregate average purchase price and below Strive’s latest $79,281 acquisition price.

For Strategy, the immediate focus appears less about adding another few thousand Bitcoin and more about managing the increasingly complex securities structure built around its enormous existing treasury.

Strive is taking the other side of that moment: keep buying BTC while the largest corporate holder pauses.