Strategy Shares Hit Two-Month High as Bitcoin Rebounds Above $79,000
Summary
- Bitcoin rebounded above $79,000, lifting Strategy shares and preferred stock STRC.
- Strategy raised $333.7 million through sales of MSTR shares and used $52.4 million for STRC dividends and $132.2 million for STRC repurchases.
- Strategy currently holds 840,447 BTC), and its holdings are worth about $65.2 billion, according to an on-chain tracking service.
Forecast Trend Report by Period
Strategy shares and its preferred stock STRC extended gains as Bitcoin rebounded above $79,000.
The Block reported on Aug. 21 that Strategy climbed 7.5% in early trading to rise above $120, its highest level in two months. Bitcoin also rose as high as $79,400 at about the same time.
STRC also topped $96 for the first time since June. The floating-rate perpetual preferred stock was issued by Strategy to help fund Bitcoin purchases. It had previously fallen below $70 as concerns mounted over the company’s ability to sustain dividends at an annualized rate of 11.5%.
The rebound followed Strategy’s latest treasury disclosure. The company raised $333.7 million by selling MSTR shares between Aug. 10 and Aug. 16. It did not buy or sell Bitcoin during that period. Of the proceeds, $52.4 million was used for STRC dividend payments, while $132.2 million was spent on STRC repurchases through its digital credit securities redemption program.
Strategy currently holds 840,447 BTC. At current prices, those holdings are worth about $65.2 billion, according to on-chain tracking service SaylorTracker.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀