Strategy Inc. has increased its bitcoin holdings to 848,000 BTC and spent $176 million on STRC share buybacks, driving up market expectations for the stock's price.
MicroStrategy CEO Phong Le cited unexpected leverage as the primary cause for the 25% drop in STRC preferred stock value, which fell to $75 before recovering to $99.
Strategy has surpassed $1.12 billion in cumulative buybacks of its STRC preferred stock after a recent $174 million repurchase.
Strategy Inc. has executed a $174 million share buyback, prompting an 11.9 percent rise in STRC stock price.
Strategy Inc. CEO Michael Saylor stated that an SEC innovation exemption enables 24/7 on-chain trading for STRC and MSTR tokens.
Strategy Inc. invested $176.3 million in STRC shares after selling 4.53 million MSTR shares and reducing its Bitcoin holdings.
