STRC Preferred Stock Jumps Above $94 on Share Buybacks and Growing Cash Reserve

Strategy's STRC preferred stock has made significant gains after a sharp recovery from its June low, rising above $94. The company's share buybacks and increased cash reserve have contributed to this growth, with a total of $106 million worth of shares repurchased over the past two weeks. Strategy's U.S. dollar reserve now stands at approximately $4 billion, which is expected to cover more than two years of dividend payments across its preferred securities.

The company has maintained an annual dividend rate of 12% and distributes payments twice a month. Strategy also sold 5,226 BTC for around $321 million, reducing its total holdings to about 842,137 BTC. Despite this reduction, the company remains the world's largest corporate Bitcoin holder, with a continued focus on building its capital strategy around the cryptocurrency.

Strategy's management has stated that Bitcoin can be used to meet financial obligations rather than remaining an inactive treasury asset. This move follows recent market volatility, during which Bitcoin stabilized above $60,000, providing additional support for STRC's recovery.