STRC Reaches $100 for the First Time Since May

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On-chain data shows STRC reached $100 on Wednesday, its first time above that level since May. The stock has risen from a June low of $71.25, following months of Strategy buybacks. STRC offers a 12% annual dividend rate, paying $12 per share at a $100 par value. Shareholders approved a daily interest calculation mechanism on October 28, effective November 1, with dividends commencing on November 2. If STRC remains at or above $100, Strategy may issue additional shares through its at-the-market program and potentially use the proceeds to purchase bitcoin—a decision contingent on management and market conditions. On-chain analysis suggests the recent rebound reflects strong investor confidence.

Odaily Planet Daily reports: Strategy, a Bitcoin reserve company, saw its preferred stock STRC reach $100 during intraday trading on Wednesday, the first time since May. STRC has rebounded from its June low of $71.25, following months of repurchases by Strategy to support its market price.

STRC has an annual dividend yield of 12%, paying $12 per share based on a par value of $100. Shareholders approved a change to daily accrual on October 28, with the new mechanism taking effect on November 1, and dividends beginning to be paid on November 2.

After STRC reaches or exceeds $100, Strategy may issue additional shares of this preferred stock through an on-exchange offering and could use the proceeds to purchase Bitcoin; issuance and Bitcoin purchases remain subject to management discretion and market conditions. (Bitcoin.com News)

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