Strategy Firm Continues STRC Buybacks, Bitcoin Holdings Steady
- Strategy bought back over 1.4 million STRC shares for $139.3 million last week.
- The firm’s USD Reserve and cash total $5.10 billion and $1.3 billion, respectively.
- STRC stock trades around $98, slightly below its par value of $100, with a monthly increase of over 3%.
- MSTR stock has risen over 34% in the past month, while Bitcoin is up more than 22% during the same period.
- Strategy’s Bitcoin holdings remain at a steady level of 845,050 BTC, acquired for $63.73 billion at an average price of $75,412.
The focus on STRC buybacks aims to drive the preferred security closer to its par value amid unchanged Bitcoin holdings. Earlier this year, Strategy sold shares under its ATM program to fund BTC purchases but paused those buys to build cash reserves and initiate buybacks.
Last week’s buyback of STRC shares demonstrates Strategy’s commitment to enhancing shareholder value while maintaining its substantial Bitcoin portfolio worth approximately $63.73 billion.(Source)
