CoinDesk
Strategy has repurchased $635.2 million of STRC, including its latest $151.8 million purchase at an average $97.48. The preferred stock trades at $97.34, below its $100 par value, even after a $1 billion authorization helped lift it from around $71 to approximately $97. Strategy also resumed Bitcoin buying after a two-month pause, acquiring 4,603 BTC for $369.7 million at roughly $80,000 and taking total holdings to 845,050 BTC valued at $65.9 billion.
Why it matters
STRC's discount highlights how investors are pricing income and structure across Strategy's preferred-stock lineup. SATA has held its $100 par value with a 13% annualized dividend paid daily, while STRC offers a 12% rate paid semi-monthly. The higher payout gives SATA a clear income advantage, while Strategy's repurchases have not yet restored STRC to par.
The buyback is also a capital-allocation signal. Strategy is committing hundreds of millions of dollars to support STRC while directing fresh capital to Bitcoin, linking the health of its preferred stock to the growth of its treasury.
Market impact
The divergence extends to common shares. ASST has gained 60% year to date, while MSTR has fallen 15%, showing that the market is not valuing every Bitcoin-treasury vehicle the same way. Investors are weighing preferred-stock terms, repurchase support and the durability of Strategy's BTC accumulation.
The next markers are whether continued STRC purchases can close the gap to $100 and whether Strategy can keep adding BTC alongside preferred-stock buybacks. That makes the discount a live measure of how effectively the company is managing both its financing layer and its Bitcoin treasury.
Frequently asked questions
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What was the average price in Strategy's latest STRC purchase?
Strategy's latest STRC purchase was $151.8 million at an average price of $97.48.
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Why has SATA held $100 par while STRC remains below it?
SATA has a 13% annualized dividend paid daily, compared with STRC's 12% rate paid semi-monthly. The higher payout has helped SATA hold its $100 par value.
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How did Strategy's $1B authorization affect STRC?
Strategy introduced a $1 billion repurchase authorization, and the buying helped lift STRC from around $71 to approximately $97.
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How much Bitcoin did Strategy add after its two-month pause?
Strategy bought 4,603 BTC for $369.7 million at roughly $80,000 after a two-month pause. Total holdings reached 845,050 BTC, valued at $65.9 billion.
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What is the year-to-date performance gap between ASST and MSTR?
ASST has gained 60% year to date, while MSTR has fallen 15%.
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