Strategy Buys 950 Bitcoin for $75.7M and Repurchases $174M of STRC

Highlights:

• Strategy bought 950 Bitcoin for $75.7 million, taking its total Bitcoin holdings to 846,000 BTC.
• The company also spent $174 million buying back STRC preferred shares during the week ending September 20.
• Strategy used its cash for both moves while keeping $5.04 billion in its USD Reserve.

Bitcoin treasury company Strategy has added another 950 Bitcoin to its balance sheet while continuing to buy back its STRC preferred stock. The company spent $75.7 million on the latest Bitcoin purchase and another $174 million repurchasing STRC shares during the week ending September 20. 

According to Strategy’s original September 21, 2026 Form 8-K filing, the company bought the 950 BTC between September 14 and September 20 at an average price of $79,670 per Bitcoin, including fees and expenses. The purchase lifted Strategy’s total Bitcoin holdings to 846,000 BTC.

Strategy has now spent about $63.80 billion on its Bitcoin position, with an overall average purchase price of $75,416 per BTC. The company funded the latest Bitcoin acquisition using its USD Cash. Strategy also confirmed that it did not sell any shares through its at-the-market offering program during the same period.

USD Duration is 3.8 yrs and STRC's BTC Credit is 53 bps assuming 10% BTC ARR, 40% BTC Vol, and a BTC price of $81,200. Learn more about Strategy's credit metrics: https://t.co/H0Xmf1wEF5

— Michael Saylor (@saylor) September 21, 2026

Strategy Repurchases 1.77 Million STRC Shares

Alongside the Bitcoin purchase, Strategy repurchased 1,771,238 STRC shares for a total of $174 million between September 14 and September 20. STRC is Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock and is separate from its MSTR Class A common stock.

The filing showed that Strategy did not repurchase shares of STRF, STRK, STRD or MSTR during the week. After the latest STRC transaction, $875.1 million remains available under Strategy’s digital credit securities repurchase program. The company also still has $1 billion available under its separate MSTR stock repurchase program.

Strategy Uses Cash for Bitcoin and STRC Buybacks

The two transactions used nearly $250 million of Strategy’s USD Cash. The company spent $174 million on the STRC repurchase and another $75.7 million on Bitcoin. Strategy keeps its USD Cash separate from its USD Reserve.

According to the filing, USD Cash can be used to acquire Bitcoin, expand the USD Reserve and support other capital management needs. The USD Reserve is mainly intended to cover preferred-stock dividends and interest on outstanding debt.

During the same September 14 to September 20 period, Strategy used $57.4 million from its USD Reserve to pay preferred-stock dividends and interest obligations. As of September 20, the company held $5.04 billion in its USD Reserve and $1.05 billion in USD Cash.

Before the latest acquisition, Strategy’s Bitcoin ledger showed 845,050 BTC after the company bought 4,603 BTC in late August for roughly $369.7 million. The additional 950 BTC has now brought its holdings back to 846,000 BTC.

Meanwhile, Michael Saylor shared a fresh STRC update on September 21. He said STRC’s Bitcoin Credit stands at 0.53%, based on Bitcoin at $81,200 and other assumptions used by Strategy. He also said the company’s USD Duration is 3.8 years. These figures are part of Strategy’s own way of tracking how its financial products perform alongside its Bitcoin holdings.

At the time of writing, BTC was trading at $85,266, up about 5.6% over the past 24 hours, according to CoinMarketCap data. However, it is still down about 32% from its all-time high of $126,198.