STRC Nearly Hits $100 After Bitcoin Giant Strategy Breaks Buyback Promise

Strategy’s STRC preferred stock closed at $99.88 on Monday, its best finish since May, after the bitcoin treasury giant spent roughly seven times more cash buying shares back over two weeks than it spent on BTC. On July 27, with STRC trading in the $80s, Michael Saylor laid out a simple rule and wrote on X : That day’s buyback was 288,930 shares for $25 million at an average price of $86.52 per share. STRC is Strategy’s variable-rate Series A perpetual “Stretch” preferred stock, a $100-par security that pays a semi-monthly cash dividend and has no maturity date.

Source: Bitcoin.com News