Strategy says STRC briefly returned to $100
STRC touched $100 on Nov. 4
Strategy said its STRC preferred stock briefly reached $100 on Nov. 4. A preferred stock is a type of company share that usually pays a set dividend.
Executive chairman Michael Saylor marked the move with a short post: “We're ₿ack.” STRC later eased back and closed at $99.97, according to tracker STRC.live.
Main points in brief
- Strategy announced STRC had reached $100 on Nov. 4.
- STRC.live said the stock touched $100 and closed at $99.97.
- Strategy's bitcoin treasury was 849,327 BTC as of Nov. 1.
- STRC.live estimated renewed sales may have financed about 191 BTC, but Strategy has not confirmed this.
What Strategy announced
Strategy said the return to $100 came after about $2 billion of share repurchases since July. Repurchases mean the company bought back its own shares.
The company had been supporting STRC while it traded below its $100 stated value for an extended period.
STRC now pays a 12% annual dividend. Strategy began daily dividend payments on Nov. 1. Daily payments spread the dividend into smaller, more frequent payments.
STRC returned to $100 within three trading sessions after that change, Strategy said.
Strategy's Nov. 2 disclosure listed about $18 billion of STRC available for issuance and sale as of Nov. 1. The company policy described in the report is not to issue STRC below $100.
What the tracker estimates
STRC.live estimated that at-the-market activity, meaning sales made in the open market, may have financed the purchase of about 191 BTC on Wednesday.
Strategy has not confirmed those purchases. The estimate should be treated as unconfirmed.
Push for wider use of STRC
CEO Phong Le previously called STRC “Digital Credit for everyone.” He said it grew into a $10 billion product within its first year.
Le also put average daily trading volume at about $143 million. He said yield-generating stablecoins, which are tokens designed to hold a steady value, and tokenized products built on STRC had grown to $500 million.
Context from Fidelity research
A report dated Oct. 20 from Fidelity Digital Assets described perpetual preferred stock as a new source of institutional bitcoin demand.
Fidelity estimated that bitcoin-focused preferred securities from Strategy and other companies had financed the purchase of 135,979 BTC as of Oct. 5.
The report said such securities can bring in investors seeking regular income and direct the money into bitcoin. This differs from spot exchange-traded funds, which are funds traded on an exchange and tied to an asset's price.
Fidelity also warned that the model depends on bitcoin rising enough to cover dividend costs. It said issuers could face pressure during long market downturns.
What is confirmed and what is not
Confirmed by Strategy in the source material are the Nov. 4 announcement that STRC reached $100, the start of daily dividends on Nov. 1, the 12% annual dividend rate, and the treasury figure of 849,327 BTC as of Nov. 1.
Not confirmed are the estimated 191 BTC purchases. STRC.live made that estimate, and Strategy has not confirmed it.
Why the $100 level matters
At $100, Strategy could again sell STRC to raise money for bitcoin purchases under its stated policy, without issuing more common stock.
Below $100, that route was limited. The source material says Strategy instead spent money buying STRC back at a discount.
What to watch next
Investors can check Strategy's next weekly filing for STRC sales, bitcoin purchases, and the pace of buybacks.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.