Bitcoin News
By Jean-Luc Maracon
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STRC Trading Below Par — and That's a Problem. The STRC preferred stock sat at $97.70 in premarket trading after the repurchase was announced, a 2.
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Strive and Capital B Keep Buying While Strategy Waits. Other corporate Bitcoin holders aren't sitting still.
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Strategy didn't buy a single Bitcoin last week. Instead, it spent $176.3 million buying back its own preferred shares — a move that's got the market asking what exactly the…
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Between August 31 and September 7, Strategy repurchased 1.8 million STRC preferred shares at that $176.3 million price tag.
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The STRC preferred stock sat at $97.70 in premarket trading after the repurchase was announced, a 2.3% discount to its $100 par value. That gap matters more than it sounds.
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The company's Nasdaq-listed MSTR stock didn't take the news well either — it dropped over 3% in recent trading.
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Strategy's capital framework, unveiled on June 29, already allows for Bitcoin sales to fund dividends if needed.
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Worth noting: Strategy's last Bitcoin buy before this pause was a $370 million acquisition, its first purchase since mid-June.
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Other corporate Bitcoin holders aren't sitting still. Strive, currently the fifth-largest Bitcoin treasury, bought 1,375 BTC for $109 million during this same stretch, at an…
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Related: Liquid Recovers $270 Million, But 598 Bitcoin Still Missing After Hack
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France-listed Capital B also made a move, dropping $25 million on Bitcoin in what the company called its largest acquisition in nearly a year.
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So while Strategy is focused inward on its balance sheet, at least two other corporate treasuries are actively adding.
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The broader corporate Bitcoin treasury trend has picked up steam over the past couple of years, with more publicly traded companies treating Bitcoin as a reserve asset rather…
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Strategy's situation is a bit of a balancing act right now. It's got a massive Bitcoin position it clearly doesn't want to sell.
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But the market seems uncertain. MSTR down 3% while STRC barely moves isn't a roaring vote of confidence.
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