Saylor Says Strategy Share Buybacks Aren’t a Priority, Citing $4.8 Billion Cash Holdings

Michael Saylor, chairman of Strategy, said the company is not currently prioritizing buybacks of its MSTR shares.

Saylor told CoinDesk on August 17 that Strategy could repurchase shares if MSTR trades at a steep discount to net asset value, or NAV. For now, he said, the company is focused on its STRC preferred stock business and on building cash reserves.

Strategy currently holds about $4.8 billion in cash. That gives the company flexibility to buy more Bitcoin, repurchase common and preferred shares, or repay debt, Saylor said.

He added that Strategy could also sell Bitcoin if necessary to keep STRC’s dividend stable. The company is seeking to keep STRC near its $100 issue price, and Saylor said MSTR investors should take a long-term view of at least four years.