# Strategy’s $2 Billion Preferred Buyback Authorization Could Last Two Weeks By John Kim Canonical URL: https://www.tokenpost.com/news/business/32721 Published: 2026-10-15T19:39:59.000Z Updated: 2026-10-15T19:39:59.000Z Section: Business > Strategy repurchased $192.4 million in STRC during the week ended Oct. 11, its largest weekly total since the program began in late July. Strategy could maintain its latest preferred-stock buying pace for about two weeks before exhausting its $2 billion authorization, after spending $192.4 million on repurchases in the week ended Oct. 11. The company spent that amount on its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), its largest weekly repurchase total since buying began in late July. Strategy has spent about $1.6 billion on STRC buybacks since then. Last week’s purchases cost about nine times as much as its Bitcoin purchases during the same period, with an average STRC purchase price of $99.58. The authorization had $723.5 million remaining as of Sept. 27, before later purchases shortened its runway. A [Sept. 27 update to the buyback authorization]() showed that balance. Strategy’s board raised the program’s limit from $1 billion to $2 billion in September and can increase it again. STRC has a $100 stated amount and a 12% annualized dividend rate. Strategy’s stated approach is to buy more shares at larger discounts and slow purchases as the price nears $100. The stock closed Tuesday at $99.90, 10 cents below that amount. The first week of Strategy’s buybacks, in late July, involved about $25 million in purchases at an average price near $87. Weekly spending then increased as STRC moved closer to $100. The company’s repurchases have continued while the preferred stock trades below that level. At or above its stated amount, STRC can be issued to raise money for Bitcoin purchases, with dividends paid to holders twice a month. Strategy’s last STRC sale was in the week of May 11, when it raised about $1.95 billion. The company has not sold new STRC shares since the stock closed below $100 on May 15. Strategy has funded most of its buybacks with proceeds from sales of its MSTR common stock, either directing the money to repurchases or holding it as cash first. The company also sold Bitcoin during the summer to help pay for buybacks. Much of the proceeds from MSTR sales has gone toward retiring STRC instead of purchasing more Bitcoin. ## Links in this article - [Sept. 27 update to the buyback authorization](https://www.tokenpost.com/news/business/26207)