Strategy Resumes Bitcoin Buying, Spends $176.3M on Own Stock

This pivot from Bitcoin accumulation to self-financing signals a tactical capital allocation choice, not a retreat from the asset class. The doubled buyback authorization suggests management sees its own equity or preferred stock as undervalued relative to fresh BTC purchases at current prices. For observers, the key question is whether this marks a temporary pause or a broader recalibration of its treasury strategy—especially as the firm balances shareholder returns with its core Bitcoin thesis. Watch whether the next funding round favors BTC or buybacks.