Strategy’s STRC remains below $100 despite $635 million in buybacks

Strategy has spent $635.2 million repurchasing its STRC perpetual preferred stock as the security continues to trade below its $100 par value despite recovering from a low near $71. Summary Strategy has spent $635.2 million buying back STRC, which remains below its $100 par value at around $97. The latest STRC repurchase totaled $151.8 million at an average price of $97.48 per share. Strategy returned to Bitcoin buying with a $369.7 million purchase of 4,603 BTC, taking its holdings to 845,050 BTC. Strive’s SATA offers a 13% annualized dividend with daily payments, compared with STRC’s 12% rate paid twice monthly. SATA has stayed near $100, while Strive’s ASST has gained roughly 60% this year compared with a 15% decline for MSTR. Strategy disclosed in its latest filing that it bought back another $151.8 million of STRC during the week ended Aug. 30, paying an average $97.48 per share as part of a repurchase program designed to support the preferred stock. The latest purchase covered 1.56 million STRC shares and came as the company returned to buying Bitcoin after a roughly two-month pause. Strategy acquired 4,603 BTC for $369.7 million at an average price of $80,318 per coin, takin...