STRC Preferred Stock Surges Above $94 as Strategy Continues Buyback Program

Strategy's preferred stock, STRC, has recovered over 30% from its June low after trading below $80 during market weakness. The company repurchased $106 million worth of STRC shares in recent weeks as part of a share buyback program authorized up to $1 billion.

The increased cash reserve now stands at approximately $4 billion, which the company estimates can cover more than two years of dividend payments across its preferred securities.

Strategy also reduced its Bitcoin holdings by selling 5,226 BTC for around $321 million, lowering its total holdings to about 842,137 BTC. Despite this, the company remains the world's largest corporate Bitcoin holder and continues to build its capital strategy around the cryptocurrency.