Strategy Invests $139M in STRC, Maintains Bitcoin Holdings
- Strategy spent $139 million repurchasing STRC while keeping its large reserve of Bitcoin untouched.
- The company holds a total of 845,050 BTC and $6.4 billion in USD assets as of September 13, with no bitcoin transactions between September 8 and September 13.
- STRC is a variable-rate perpetual preferred stock collateralized by the company’s bitcoin and U.S. dollar reserves, offering cash dividends to holders.
Strategy’s decision to buy back STRC below its $100 par value aims to reduce future cash dividends and strengthen its credit position, while hoping for an increase in STRC’s value to facilitate further Bitcoin purchases.
The firm’s strategy focuses on leveraging its financial instruments like STRC to optimize asset management without altering its substantial Bitcoin holdings, which remain at over eight hundred thousand BTC units as of mid-September. (Source)
