Strategy held 845,050 BTC (~$63.7B total) with no purchases or sales in early September, while expanding its share buyback program to $2B.
Macro & Markets ·
Strategy repurchased $176 million worth of its own shares while making no purchases or sales of bitcoin during the period. The company's total bitcoin holdings represent approximately 4% of the 21 million bitcoin supply cap, valued at around $66 billion.
The share buyback reflects a capital allocation decision distinct from treasury management of its cryptocurrency reserves. Strategy's holdings position it as a significant holder relative to the theoretical maximum supply, though the exact timing and rationale for the repurchase program relative to market conditions remain unclear from available details.
No information has been provided regarding future bitcoin acquisition plans, the duration of the share buyback program, or how the company views the relative value of deploying capital into equity repurchases versus cryptocurrency purchases at current price levels.