Strategy skips Bitcoin purchases for second consecutive week, buys back $139M in STRC shares

Strategy has paused its Bitcoin acquisitions for a second consecutive week, holding its treasury flat at 845,050 BTC. Instead, the firm redirected $139.3 million from its USD Cash reserve to buy back 1,420,467 of its own STRC preferred shares. Meanwhile, competitor Strive expanded its treasury to 25,000 BTC by purchasing 469 coins for $36.6 million, funded entirely through its SATA preferred stock program. This corporate divergence occurs as the broader market faces volatility ahead of a crucial Senate cloture vote on the CLARITY Act.

Strategy STRC share repurchases

• ▪Strategy repurchased 1,420,467 shares of its STRC preferred stock for $139.3 million between September 8 and September 13, 2026
• ▪Strategy funded its $139.3 million STRC preferred stock repurchase entirely from its USD Cash reserve, which decreased from $1.44 billion to $1.30 billion
• ▪Strategy has approximately $1.05 billion remaining under its $2 billion digital credit securities repurchase program and $1.0 billion available for MSTR common stock buybacks

Strategy Bitcoin purchase halt

• ▪Strategy's last Bitcoin purchase occurred on August 31, 2026, when the firm acquired 4,603 BTC for approximately $370 million
• ▪Strategy acquired its 845,050 BTC stack for $63.73 billion at an average price of $75,412 per coin, inclusive of fees
• ▪Strategy held its Bitcoin treasury unchanged at 845,050 BTC for the second consecutive week ending September 13, 2026

Strive Bitcoin treasury expansion

• ▪The 469 BTC purchase increased Strive's total Bitcoin holdings to exactly 25,000 BTC, valued at approximately $1.93 billion
• ▪Strive acquired 469 BTC for $36.6 million at an average price of $77,954 per coin between September 8 and September 11, 2026

SATA preferred stock financing

• ▪Strive's SATA preferred stock is a floating-rate instrument that pays a 13% annualized dividend every business day, creating an annual coupon obligation of roughly $135 million
• ▪Strive funded 100% of its $36.6 million Bitcoin purchase by issuing SATA preferred stock, raising the outstanding notional of the instrument past $1 billion

CLARITY Act Senate vote

• ▪The U.S. Senate scheduled a cloture vote on the CLARITY Act's motion to proceed for 2:15 p.m. EDT on September 15, 2026
• ▪Bitcoin's price declined to $76,800 as prediction markets priced the probability of the CLARITY Act passing in 2026 at under 25%

Debatable claims

• ▪Strive's use of high-yield preferred stock to buy Bitcoin poses unacceptable financial risks
• ▪Strategy should prioritize repurchasing its STRC preferred stock over buying more Bitcoin