Saylor's $25 Million STRC Buyback Raises Eyebrows Over Inefficient Capital Allocation

Michael Saylor's Strategy has come under fire for its decision to spend $25 million on repurchasing STRC floating-rate preferred shares.

The move, which lifted the market price by roughly 2.3%, was seen as inefficient capital allocation and a risk to shareholder value.

An analyst slammed the decision, saying it diverted capital from core Bitcoin accumulation and fundraising uses.

The concern revolves around the nature of STRC itself, a floating-rate preferred security that is not redeemable at its original issue price of $100.