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Can MicroStrategy (STRC) resume Bitcoin purchases? STRC falls again in US pre-market trading

2 hours ago

According to BIT (bit.com) market data, U.S. pre-market trading for Strategy’s perpetual preferred stock (ticker: STRC) stands at $88.1, down 0.26%, after closing 1.65% higher yesterday. Separately, Strategy has not added to its Bitcoin holdings for the fifth consecutive week. Yesterday, Strategy founder Michael Saylor emphasized that the company will not issue new STRC shares when its price is below $100. The firm has repurchased 288,930 shares of STRC preferred stock for a total of roughly $25 million, at an average repurchase price of $86.52 per share. Strategy plans to continue acting as a "regular and disciplined buyer": it will maintain repurchases of STRC when the price is below $100, increase buying volume when the price is far from $100, and scale back repurchases when the price approaches $100. Currently, Strategy still has approximately $975 million available for preferred stock repurchases. Funds for STRC repurchases will not be drawn from U.S. dollar reserves; instead, they will be raised via methods including selling MSTR stock and Bitcoin, depending on market conditions, with the goal of stabilizing STRC’s price around $100.

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