Strategy’s preferred stock, STRC, has climbed over 30% since June as the company executes a strategic plan to bolster cash reserves and meet its dividend obligations.
Key Points
- STRC shares reached $94 on August 5, marking a 6% gain over the previous five trading sessions.
- The company sold 5,226 Bitcoin for $321 million to demonstrate liquidity and fund dividend payments.
- Strategy repurchased $106 million of its own preferred stock to move the price toward its $100 par value.
- Total cash reserves increased to $4 billion, providing over two years of coverage for the 12% preferred dividend.
- Bitcoin prices stabilized at $64,700 following a June low of $58,000.