STRC Surpasses $94, Rises 30% from June Lows Amid Strategy's Bitcoin Sales and Share Repurchases

ME News reports that on August 5 (UTC+8), according to BIT (bit.com) market data, Strategy’s perpetual preferred stock STRC surged past $94 during U.S. trading hours, marking a roughly 30% increase from its June low. The recent rally has been supported by several factors: Strategy’s sale of Bitcoin to pay dividends, the repurchase of $106 million in preferred shares, and an increase in its U.S. dollar reserves to $4 billion. Additionally, Strategy has not added to its Bitcoin holdings for six consecutive weeks. Strategy’s founder, Michael Saylor, emphasized last week that the company will not issue new shares while STRC trades below $100. To date, Strategy has repurchased 288,930 shares of STRC preferred stock at a total transaction value of approximately $25 million, with an average repurchase price of $86.52 per share. Strategy plans to continue acting as a “consistent and disciplined buyer,” repurchasing STRC shares whenever the price falls below $100, increasing purchase volume when the price is significantly below $100, and reducing repurchases as the price approaches $100. Currently, Strategy still has approximately $975 million in authorized capacity available for preferred stock repurchases. Funding for STRC repurchases will not come from U.S. dollar reserves but will instead be raised through the sale of MSTR shares and Bitcoin, as market conditions dictate, with the goal of stabilizing STRC’s price near $100. (Source: BlockBeats)