Strategy spends $635M buying back STRC as perpetual preferred stock lags $100 par
Strategy Inc. has spent $635 million repurchasing its STRC preferred stock to support its price, while simultaneously resuming bitcoin acquisitions. The company faces competition from Strive’s SATA preferred stock, which offers a higher dividend and has maintained its par value more effectively.
Why it matters
The financial maneuvers of bitcoin-heavy treasury companies reflect broader market volatility and the competitive landscape of crypto-linked financial products.
The bitcoin treasury company has now spent $635.2 million buying back STRC, which currently trades at $97.34. The company introduced a $1 billion repurchase authorization that has helped lift STRC from a low of around $71 to approximately $97.
The repurchases have increased in size as STRC’s price has climbed. Strategy’s latest purchase totaled $151.8 million at an average price of $97.48.
Strategy meanwhile purchased bitcoin for the first time in two months, acquiring 4,603 BTC for $369.7 million last week, at around $80,000. The purchase increased its total holdings to 845,050 BTC ($65.9 billion).
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