Strategy Buys Back $635M in STRC Preferred Stock While Bitcoin Holdings Rise

Strategy has continued to spend $635.2 million buying back its STRC perpetual preferred stock, which remains below its par value of $100 at around $97.

The latest repurchase totaled $151.8 million at an average price of $97.48 per share, with Strategy returning to Bitcoin buying after a two-month pause by acquiring 4,603 BTC for $369.7 million at an average price of $80,318 per coin.

STRC's recovery from its June lows has led to increased institutional demand, with the preferred stock becoming the largest holding in three major U.S. preferred stock exchange-traded funds by late July, collectively holding $756 million of STRC.