The firm converted 1,690 BTC into cash to fund share repurchases, boosting STRC amid broader buyback programs.
Strategy used proceeds from converting 1,690 BTC to execute a $108.6M buyback of its STRC preferred stock. The move is part of a broader repurchase program, with $785.2 million remaining for preferred shares and $1 billion for Class A common stock.
The company’s US dollar reserve grew to $4.65 billion, up from $4 billion the prior week, fueled by $650 million from recent MSTR stock sales. STRC shares rallied 24% from June lows, reclaiming $90 on August 3.
Premarket trading saw STRC rise 0.46% to $95.45, while MSTR edged up 0.25% to $100.26.