Michael Saylor · Strategy · Bitcoin · CryptoSlate
Strategy has $785 million left to close STRC’s final $5 gap after selling $213 million in Bitcoin
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Strategy’s preferred stock STRC is steadily moving back toward its $100 target as the Bitcoin treasury company increases its purchases of the shares.
Key facts
- Together, Strategy has sold 3,328 BTC for about $213.3 million over the past two weeks while spending $189.8 million on STRC during the same period
- Data from STRC.live showed that STRC traded around $95 on Monday, extending a recovery from its late-June low of about $74 as Strategy combined open-market repurchases with a 12% annualized dividend
- The company sold 6.5 million MSTR shares through its at-the-market program and directed $650 million of the proceeds into its US dollar reserve, with the remaining $3.1 million added to its general
- Strategy still has $785.2 million available under the $1 billion Digital Credit Securities Repurchase Program it authorized in June
Summary
01 Strategy bought another 1.1 million STRC shares, lifting three-week repurchases to about $214.8 million as the stock neared $95. 02 The buying, paired with a 12% dividend, matters because STRC's move toward $100 could improve Strategy's financing flexibility. 03 Strategy still has $785.2 million authorized, and it is unclear whether more Bitcoin sales or buybacks will be needed to finish the climb. Data from STRC.live showed that STRC traded around $95 on Monday, extending a recovery from its late-June low of about $74 as Strategy combined open-market repurchases with a 12% annualized dividend to narrow the security’s discount.