$1B Buyback Program Supports STRC Par Value Commitment

Michael Saylor, executive chairman of Strategy, reaffirmed the company's commitment to returning its Digital Credit Security (STRC) to its par value of $100. This move is part of a broader strategy to create upward price pressure by absorbing supply through buybacks.

Strategy has already repurchased 288,930 STRC shares at an average price of $86.52 per share using $25 million from its $1 billion authorized buyback program. The company still has $975 million available for further buybacks, which could support a substantial volume of shares if the price stays depressed.

The par value is important because Strategy will not issue new STRC below this level. Instead, it's absorbing supply to drive prices up and create upward momentum.

Saylor emphasized that Strategy stands ready to pour more capital into buybacks if needed, using its large Bitcoin holdings as a backstop to fund further purchases and support dividend obligations.