Strategy Buys Back $139 Million of STRC, Bitcoin Stack Frozen for Second Week

The buyback of STRC preferred stock, funded without touching the Bitcoin stack, suggests Strategy is prioritizing its capital structure over further accumulation. That shift matters for preferred holders and for anyone tracking whether corporate treasuries remain a marginal Bitcoin bid. The key question is whether the company keeps repurchasing its own instruments while its BTC position stays flat, or whether the pause proves temporary.