Strategy Corp sold Bitcoin and MSTR shares to fund STRC repurchases and dividends, lifting the stock 24% from June lows.
Strategy’s perpetual preferred stock STRC climbed back to $90 after a 24% rebound from its June closing low. The recovery followed the company’s disclosure of $104.7 million in Bitcoin sales, with proceeds split between $52.4 million for preferred-stock dividends and $52.3 million for STRC repurchases.
STRC remains below its $99-$100 target range despite the rally. Strategy also raised $290.6 million via MSTR share sales, allocating $250 million to its dollar reserve and $28.9 million for additional STRC buybacks. The company repurchased 912,143 STRC shares for $81.2 million and boosted its dollar reserve to $4 billion.
The moves aim to stabilize STRC amid concerns over its trading volatility and capital structure.