Strategy buys back nearly $1 billion of STRC preferred stock to stabilize price
- —About 9.96 million STRC shares repurchased for roughly $950 million since late July
- —Buyback program limit raised from $1 billion to $2 billion
- —Since July 1, the STRC dividend has been raised to 12% annualized
- —The company reported no new bitcoin purchases during this period
Why it matters: Strategy has shifted capital from buying BTC to supporting its own instrument, changing its usual bitcoin accumulation model and affecting the company's valuation.
Source: Crypto Briefing