Strategy’s discretionary cash falls 72% as buyback authorization rises to $3 billion

Strategy’s discretionary cash fell 72% to about $1.4 billion, while the company expanded its share-repurchase authorization to $3 billion. The move gives Strategy greater flexibility to support its stock and capital structure, but the reduced cash cushion may constrain its ability to fund future Bitcoin purchases or meet obligations without raising capital. The buyback authorization is not a commitment to repurchase shares.