Strategy's $25M Preferred Stock Buyback Lifts MSTR Shares Amid Bitcoin Stalemate

MSTR shares rose over 2% in premarket trading on Monday after Strategy Inc., the firm behind the $94.08 stock, repurchased 288,930 STRC preferred shares for $25 million.

This move comes as part of a broader strategy, with Strategy offloading 5.4 million Class A common shares between July 20 and July 26, generating $544.5 million in net proceeds via its at-the-market equity program.

The company has refrained from purchasing or selling Bitcoin for the third week in a row, maintaining its total holdings of 843,775 BTC, valued at an aggregate $63.69 billion based on an average cost basis of $75,476 per token.