Strategy's preferred shares, STRC, hit a five-month high, closing at $99.49 on October 27. Executive chairman Michael Saylor has indicated the company plans to resume significant Bitcoin purchases once STRC reaches $100.
Strategy Inc.'s preferred shares have reached a five-month high, as reported by @BitcoinArchive. The STRC shares closed at $99.49 on October 27, nearing their 52-week high of $100.42.
The move follows remarks from Michael Saylor, Strategy's executive chairman, who has indicated plans to resume significant Bitcoin purchases once the STRC share price hits $100.
Meanwhile, Strategy allocated $204.9 million to repurchase approximately 2.07 million STRC shares. That suggests a focus on maintaining share value while pausing Bitcoin acquisitions.
Markets will closely monitor STRC as it approaches $100, a level that could trigger significant Bitcoin purchases by Strategy. Observers will also watch for developments in the company's financial strategies, including dividend rates and equity liabilities.
Source: Crypto Briefing
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