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Crypto

Strategy halts bitcoin buying again, redeems $176.3 million of STRC

Strategy stopped buying bitcoin again a week after resuming purchases. It instead redeemed 1,810,885 shares of its STRC preferred stock for $176.3 million and doubled the limit for its digital credit securities repurchase programme to $2 billion from $1 billion. The company did not buy or sell bitcoin from Aug. 31 to Sept. 7 and kept holdings at 845,050 BTC. It said it has $5.1 billion in dollar reserves and $1.44 billion in cash.

Crypto

Strategy says selling bitcoin at $60,000 and buying at $80,000 was right at the time

Strategy sold bitcoin in the $60,000 range and later repurchased it in the $80,000 range, but CEO Phong Le said both moves were appropriate given funding conditions at the time. He said the company’s decisions are driven by its balance sheet and financing costs rather than bitcoin price forecasts. Strategy sold 6,916 bitcoin and later bought 4,603 bitcoin using proceeds from selling MSTR shares, lifting holdings to 845,050 bitcoin.

Crypto

Strategy\'s STRC push to reclaim $100 par value faces test

Strategy has deployed $635.2 million to return its preferred-type security STRC to its $100 par value, but it is still hovering around $97. With a remaining $364.8 million from a $1 billion buyback pool, investors are watching how much more capital the company will commit. Strategy has funded support with sales of bitcoin and MSTR shares while also resuming bitcoin purchases, as rival bitcoin-linked income securities expand and competition for investor demand increases.