Exchanges· ★★★★· neutral·

Strategy's STRC Buyback Loop Nears $100 Target After $1.6B Spent

  • —Strategy has spent $1.6 billion on STRC buybacks since late July, pushing the price to $99.90
  • —The last STRC sale came in the week of May 11 and raised about $1.95 billion
  • —Last week's STRC purchases totaled $192.4 million, about nine times its bitcoin spending
  • —Buybacks are funded mainly by MSTR sales, and the company sold bitcoin this summer
Why it matters: Buying back STRC instead of bitcoin reduces MSTR's leverage to BTC and shifts the profile of the largest corporate bitcoin holder.
#BTC#MSTR
Source: Unchained
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