Strategy Kicks Off STRC Buybacks at a Discount Strategy has made its first move under its $1 billion Digital Credit Securities Repurchase Program, buying back shares of its Variable Rate Seri
Strategy has made its first move under its $1 billion Digital Credit Securities Repurchase Program, buying back shares of its Variable Rate Series A Perpetual Stretch Preferred Stock at a notable discount to face value. The company repurchased 288,930 STRC shares for approximately $25 million at an average price of $86.52 per share.The transactions were carried out through open-market purchases between July 20 and July 26, 2026.
Executive Chairman Michael Saylor (@saylor) has signalled that future repurchases could draw on more than one funding source. According to the company, Bitcoin $BTC sales become a more attractive option when STRC trades well below its $100 stated value, with MSTR stock sales serving as an alternative depending on prevailing market conditions.
President and CEO Phong Le said: "At prices below $100 per share, STRC repurchases represent an attractive allocation of capital because they can reduce future preferred dividend requirements at a discount."
Strategy intends to be a regular and disciplined purchaser of STRC while it trades below its $100 stated amount, with the pace of repurchases expected to increase at deeper discounts and taper as the price approaches $100 per share.
Approximately $975 million remains available under Strategy's Digital Credit Securities Repurchase Program, announced in June 2026. The company has made clear it will not tap its USD Reserve to fund these buybacks.
Strategy also added $525 million to its USD Reserve from proceeds of MSTR common stock sales under its at-the-market offering program, bringing the reserve to an all-time high of $3.75 billion, equivalent to approximately 25 months of expected preferred stock dividend payments.
The buyback activity is part of a broader capital management overhaul. In June 2026, Strategy adopted a Digital Credit Capital Framework designed to strengthen its preferred securities, enhance liquidity, preserve long-term Bitcoin exposure, and support long-term value creation for shareholders.The framework also includes a board-approved Bitcoin monetization program, allowing future $BTC sales to build reserves and fund dividends and interest payments.
Saylor has stated the objective is for STRC to trade near $100 with high liquidity, low volatility, and healthy, sustainable independent demand.
Sources:Strategy Official Press Release: STRC Repurchases and Ongoing Buyback Policy (July 27, 2026)CoinDesk: Strategy Bought Back STRC Shares, Lifted Cash Reserves (July 27, 2026)Strategy Official Press Release: Digital Credit Capital Framework (June 29, 2026)
