Difficulties in Restarting BTC Accumulation Strategy? STRC Stock Plunges Pre-market Again

BlockBeats News, July 28th, according to BIT (bit.com) market data, the pre-market price of the US stock Strategy Perpetual Preferred Stock STRC is now at $88.1, down 0.26%, and it saw a 1.65% increase in closing price yesterday. In addition, Strategy has not increased its Bitcoin holdings for the 5th consecutive week.

Yesterday, Strategy's founder Michael Saylor emphasized that the company will not issue new shares when STRC is below $100. The company has repurchased 288,930 shares of STRC preferred stock for a total amount of about $25 million, with an average repurchase price of $86.52 per share. Strategy plans to continue as a "methodical and disciplined buyer," continuously repurchasing when STRC is priced below $100, increasing repurchases when the price is far from $100, and reducing the repurchase scale when approaching $100. Currently, Strategy still has approximately $975 million available for preferred stock buybacks. The STRC buyback funds will not use USD reserves but will be raised through MSTR stock and Bitcoin sales according to market conditions, with the aim of stabilizing the STRC price around $100.