Strategy repurchased approximately $174 million of its Variable Rate Series A Perpetual Stretch Preferred Stock, traded under the ticker STRC, bringing cumulative purchases under the program above $1.12 billion. STRC rose 11.9% after the disclosure around September 21, 2026. The transaction was funded through cash reserves rather than Bitcoin sales. Strategy launched its Digital Credit Securities Repurchase Program on June 29, 2026, with a $1 billion authorization, then doubled it to $2 billion around September 8. Approximately $1.19 billion remains available. Because STRC has a $100 par value, repurchasing shares below that level can be accretive by capturing the discount between market price and face value. Strategy spent $176.3 million on 1.81 million shares in the week ended September 7 and another $152 million in the week ended August 30. STRC’s annual dividend rate is 12%, effective July 1, 2026. Strategy said its USD reserve, which reached approximately $5.1 billion by early September 2026, is separate from its Bitcoin treasury and is intended to cover preferred dividends, interest obligations and repurchases. A separate authorization covers common-stock repurchases, although STRC has received most of the capital deployed under this program. With $1.19 billion still authorized and recent weekly spending of $150 million to $176 million, the program has room to continue supporting the share price.