According to Strategy, the company repurchased approximately $139.3 million of STRC in the week ending September 13, but did not buy or sell any Bitcoin. This marks the second consecutive week that the company has paused its increase in holdings, with its Bitcoin position remaining at 845,050 coins.
Bitcoin holdings remain unchanged.
The company disclosed that the cumulative cost of purchasing this portion of Bitcoin was approximately $63.73 billion, with an average cost of about $75,412 per coin, including related expenses. In the week prior, Strategy had used $176.3 million to repurchase securities, and at the same time, the board of directors doubled the authorization for the repurchase of digital credit securities to $2 billion.
The funds for the latest week's repurchases also come from USD Cash. This fund pool is centrally allocated by the management and can be used for securities repurchases, preferred stock dividends, and Bitcoin purchases.
There is still a balance in the repurchase quota.
As of September 13, the balance of USD Reserve for Strategy was 5.1 billion US dollars, mainly used to support the payment of preferred stock dividends and interest; the balance of USD Cash was 1.3 billion US dollars, which is lower than the 1.44 billion US dollars from a week ago, and the decrease is roughly equivalent to the amount repurchased this week by STRC.
According to the data disclosed by the company, out of the current $2 billion credit securities repurchase program, there is still approximately $1.05 billion available; likewise, there is an unused share repurchase quota of $1 billion for MSTR.
- STRC This week's repurchase amount: approximately $139.3 million
- Remaining balance for the repurchase of digital credit securities: approximately $1.05 billion
- MSTR Stock Repurchase Remaining Quota: $1 billion
The results of the index adjustment are still to be observed.
According to the credit profile disclosed by Strategy, the corresponding " BTC Credit spread " for STRC is approximately 57 basis points. The company's internal standard considers anything below 150 basis points to be investment grade.
At the same time, the market is also paying attention to whether MSCI will continue to include "non-operating companies" in global stock indices. If the relevant plan moves forward, companies like Strategy that are centered around Bitcoin treasuries may face adjustments to their index weights, which could in turn affect the flow of passive funds.
MSCI This consultation period will end on September 30th, and the results are expected to be announced on October 16th. Since Strategy has a high weight in the relevant indices, the final decision may affect the allocation of passive funds amounting to several billion dollars.
Additional information:The STRC mentioned in the article is one of the Strategy digital credit securities, and the related risk premiums and repurchase arrangements are all calculated according to the company's own disclosure standards.
