Live updates: Bitcoin holds near $82,000 as Nasdaq rebounds more than 1%
MicroStrategy has increased its preferred stock (STRC) buyback authorization to $3 billion following criticism regarding its capital allocation strategy. Despite the buybacks and high dividend yield, some investors question if the capital would be better utilized for further Bitcoin acquisitions.
Why it matters
The debate highlights the tension between corporate treasury management and aggressive Bitcoin accumulation strategies.
The company this morning announced the repurchase of $193 million of STRC, bringing total buybacks to nearly $2 billion. Strategy also announced an increase in the authorized buyback amount to $3 billion from $2 billion.
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