Live updates: Bitcoin holds near $82,000 as Nasdaq rebounds more than 1% — SkimNews
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- Strategy repurchased $193 million of STRC on Monday, pushing total buybacks since the summer program began to nearly $2 billion.
- Strategy raised its authorized STRC buyback amount from $2 billion to $3 billion, with less than $9 billion of the 12%-yielding preferred currently issued.
- STRC plunged to roughly $70 this summer, prompting the buyback launch; the security has since traded mostly above $98 and sits at $98.99 Monday, up 1.3%.
- Michael Saylor responded to critics questioning why the company isn't buying bitcoin instead: "You don't build a market worth trillions without investing billions."
- The buyback pace and 12% dividend have not been enough to restore STRC to its $100 par, leaving observers divided on whether the capital belongs in preferred repurchases or spot BTC accumulation.
Why it matters: Strategy has earmarked up to $3 billion — roughly a third of its STRC float — to repurchase a 12%-yielding preferred trading within 1% of par, rather than deploying that cash into bitcoin at levels Saylor's own critics call bear-market lows; the capital-allocation fight is the real story beneath the buyback headline.
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