MicroStrategy repurchases $950 million in STRC to restore par value

MicroStrategy (Strategy) has spent approximately $950 million to repurchase 9.96 million shares of its perpetual preferred stock, STRC, between July 20 and September 13. The buyback, which accounted for about 18% of trading volume during that period, aims to push the stock price back toward its $100 par value to improve the company's Bitcoin financing capacity. Funding for the repurchases was derived from the sale of MSTR common stock and Bitcoin holdings. While the price has recovered from a low of $70 to nearly $99, analysts remain uncertain if the stock can maintain its par value once the buyback program concludes.