Strategy: STRC returns to $100, will Bitcoin purchases resume?
Strategy's preferred stock STRC has returned to the symbolic threshold of $100, after several months of decline. A rebound which could allow Michael Saylor's company to relaunch its securities issues to finance new…
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https://cryptoast.fr/strategy-strc-100-dollars-achats-bitcoin/
For the first time since May, Strategy's preferred stock STRC returned to $100 on Wednesday. An important level for Michael Saylor's company, which could thus relaunch one of its main mechanisms for financing its Bitcoin purchases.
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The stock briefly reached that threshold before closing at $99.98. STRC is a perpetual preferred stock, with no redemption date, that currently pays a 12% annualized dividend to its holders.
To support its price, Strategy carried out significant repurchases of its own shares. According to its latest results, the company had spent $2.04 billion as of October 25, then another $208.2 million between October 26 and November 1. In total, nearly $2.25 billion was spent on these operations.
To invest in Strategy and follow the price of MSTR on the stock market, you can go through a broker like Trade Republic.
The $100 corresponds to the nominal value of STRC, set at its launch. Strategy has made it a rule not to issue new shares as long as their price remains below this amount.
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A sustainable return to this level could therefore allow the company to resume its STRC emissions to finance new Bitcoin purchases.
However, this policy remains an internal decision, subject to change. Crossing $100 therefore does not guarantee an immediate resumption of emissions.
Strategy still has approximately $17.51 billion of STRC issuance capacity remaining, according to its latest regulatory filing.
To strengthen the attractiveness of the stock, the company has also introduced daily dividends since November 1, while maintaining their annualized rate at 12%.
After a week without acquiring BTC, Strategy resumed its purchases between October 26 and November 1. The company acquired 811 bitcoins for $65.5 million, bringing its reserves to 849,327 BTC. These purchases were financed by the sale of MSTR common stock, not by new issuances of STRC.
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