#StrategyInitiatesSTRCBuyback

Strategy Initiates STRC Buyback Builds Record Cash Reserve Holds Bitcoin Steady ✨

Strategy made its first preferred stock repurchase last week buying back 288930 shares of its STRC preferred stock between July 20 and July 26. Company paid approximately 25 million at average price of 86.52 per share discount to 100 par value. Approximately 975 million remains available under program.

The Policy Disciplined Approach to Discounts

🔹 Strategy has signaled clear structured approach to future buybacks While STRC trades below 100 company intends to be regular and disciplined purchaser buying more at deeper discounts and scaling back as price approaches 100
🔹 Stated objective is to help STRC trade consistently near par with high liquidity and sustainable demand
🔹 Buyback program is part of Strategy Digital Credit Capital Framework designed to strengthen its preferred securities structure
🔹 Company is funding repurchases from non USD Reserve sources potentially including MSTR share sales under its ATM program or depending on market conditions bitcoin sales However USD Reserve itself is explicitly off limits for funding repurchases

Record Cash Reserve 3.75 Billion

🔹 During same period Strategy added 525 million to its USD Reserve from proceeds of its ATM common stock offerings pushing balance to all time high of 3.75 billion
🔹 This reserve which currently covers approximately 25 months of preferred stock dividend payments is designed to support company growing dividend obligations

Bitcoin Holdings Unchanged 843775 BTC

🔹 Strategy Bitcoin holdings remained unchanged at 843775 BTC for fifth consecutive week
🔹 Company has not added to its position since June 22 and has instead prioritized rebuilding its cash buffer
🔹 CEO Phong Le confirmed Strategy intends to remain long term buyer of bitcoin but is currently focused on balance sheet resilience

What This Signals

🔹 Simultaneous action buying back STRC at discount while holding bitcoin steady and building cash reflects deliberate shift
🔹 Strategy appears to be prioritizing capital structure stability over aggressive bitcoin accumulation in near term
🔹 Company strategy is now balancing its long term bitcoin position with active management of its preferred stock obligations

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