Keyrock: Strategy buybacks drive over 20% of STRC trading volume
- —Strategy buybacks made up over 20% of weekly STRC volume in September, peaking at 28% in the week of Sept. 8
- —Of the $2 billion buyback program, $1.45 billion was spent, leaving $547.2 million as of Oct. 4
- —STRC averages about $150 million in daily volume, with depth falling 4–8x when it deviates from $100
- —Between Sept. 28 and Oct. 4 Strategy repurchased $176.3 million of STRC and bought 334 BTC for $28.7 million
Why it matters: STRC liquidity relies heavily on Strategy's own buybacks, so the instrument's ability to fund further Bitcoin purchases could be tested once the program runs out.
Source: CryptoSlate
More on this
Exchanges · Sep 30Strategy says combined MSTR and STRC trading volume is 1.3x JPMorgan's
Exchanges · Sep 29Saylor details Strategy's digital credit playbook: STRC issuance above par, buybacks below
Exchanges · Oct 5Strategy's STRC Preferred Stock Nears $100, Unlocking New Bitcoin Buying Capacity