Saylor Fires $176M at STRC as Strategy Doubles Buyback War Chest

Strategy Doubles Its Buyback Capacity

The move, filed with the U.S. Securities and Exchange Commission (SEC), affects Strategy’s U.S. securities and its broader effort to concern a monolithic bitcoin position. As of Sept. 7, Strategy disclosed that it held 845,050 bitcoin and $6.5 cardinal successful U.S. dollar assets, according to Saylor’s X post.

“Strategy has repurchased $176M of STRC and accrued the size of its Digital Credit Securities Repurchase Program from $1.0B to $2.0B. As of 9/7/26, we clasp 845,050 BTC and $6.5B of USD Assets,” Saylor said. The X station came connected Tuesday alternatively of Monday owed to the information that the U.S. recognized Labor Day

A repurchase means that Strategy is buying backmost securities already held by investors. Increasing the programme gives the institution much country to marque those purchases.

Saylor Points to Tighter Bitcoin Credit Risk

Saylor besides highlighted successful different X station what Strategy calls “BTC Credit,” a institution metric designed to measurement hazard associated with its bitcoin-backed superior structure.

“STRC’s BTC Credit tightened to 53 bps (-1 bp), assuming 10% BTC ARR, 40% BTC Vol, and a BTC terms of $79,809. Learn much astir Strategy’s BTC Credit metrics,” Saylor remarked connected the societal media platform.

A ground point, oregon bp, equals one-hundredth of a percent point. Saylor’s calculation assumes bitcoin returns 10% annually, carries 40% volatility, and trades astatine $79,809. When Saylor published his post, BTC was trading beneath that scope and struggling to clasp $78,000.

Schiff Questions Whether STRC Demand Can Hold

Then, longtime bitcoin professional Peter Schiff came with main quality vigor and questioned whether the stock buybacks code the underlying request for STRC, which carries a 12% dividend.

“What’s your goal? Even if you propulsion STRC backmost to $100 you won’t beryllium capable to contented more. There intelligibly is not capable request astatine the existent 12% dividend. If you sell, the terms would driblet again and you’ll person to resume buybacks. Just ending the buyback volition origin the terms to drop,” Schiff wrote to Saylor.

His disapproval gets to the cardinal question: whether STRC tin pull capable investors without continued enactment from Strategy. There’s a large woody of attraction connected that equilibrium due to the fact that the institution is walking a tightrope betwixt supporting its securities and maintaining its bitcoin-centered strategy. Strategy’s laminitis did not respond to Schiff’s commentary.

Investors Watch Whether Demand Picks up Steam

Per usual, Schiff hopes Saylor and squad get caught flat-footed, but the adjacent trial is reasonably simple. Market observers tin ticker whether STRC request starts picking up steam without heavier repurchases, oregon whether oregon not Strategy indispensable support buying.

For now, whether the expanded $2 cardinal programme materially moves the needle is anyone’s guess. The cardinal numbers to ticker are STRC’s terms and demand, aboriginal repurchases, and immoderate changes successful Strategy’s 845,050-bitcoin presumption arsenic the particulate settles. Schiff’s commentary was besides met with its ain criticism, and adjacent though Saylor did not reply, others did for him.

“When STRC returns to par, helium has proved helium is afloat down STRC, which volition boost confidence. Remember erstwhile you said it was down to $75 and you said it was dead?” one idiosyncratic asked Schiff. The bitcoin professional and golden proponent besides did not respond to jabs against his connection connected Tuesday.