Strategy, formerly known as MicroStrategy, repurchased 1,431,212 shares of its Variable Rate Series A Perpetual Stretch Preferred Stock, which trades under the ticker STRC, for $136.4 million during the week ending August 23. The shares carry a 12% annual dividend rate, and the purchases were conducted under Strategy’s $1 billion Digital Credit Securities Repurchase Program. The company has $516.6 million of capacity remaining under that authorization, alongside a separate $1 billion authorization for common-stock repurchases. Strategy’s USD reserves increased to $5.1 billion from $4.8 billion a week earlier, with both the reserve growth and the buyback funded primarily through sales of Class A common stock, or MSTR, via at-the-market offerings (programmed market sales of securities). Its Bitcoin holdings stayed unchanged at approximately 840,447 BTC, with a cost basis of around $75,385 per coin. Strategy’s Digital Credit Capital Framework, announced on June 29, 2026, shifts the company from using net stock issuance mainly to buy Bitcoin toward broader balance-sheet management, including repurchases and reserve building. Its BTC Monetization Program allows potential Bitcoin sales of up to $1.25 billion to replenish reserves or fund buybacks if equity markets become less receptive, but that option has not been used. The $5.1 billion reserve gives Strategy more flexibility to cover preferred dividends and continue repurchases without selling Bitcoin during a downturn, while future activity will depend on whether equity markets continue supporting its ATM offerings.