Strategy stock breaks above $120 to a two-month high; STRC returns above $96

Odaily News, according to MSX.COM data, as Bitcoin briefly broke above $79,400, shares of Bitcoin treasury company Strategy (MSTR) rose to a two-month high today, briefly surpassing $120 during intraday trading before giving back some gains.

Meanwhile, the price of Strategy's preferred stock product STRC also broke above $96 for the first time since June. Earlier, concerns over its dividend payment capability and ability to maintain the $100 price target over the long term had caused STRC to fall below $70.

Strategy has recently continued to manage its balance sheet through capital operations, including using proceeds from MSTR stock issuances to support preferred stock buybacks, dividend payments, and U.S. dollar reserve building. The company previously disclosed that as of mid-August, its Bitcoin holdings stood at approximately 840,447 BTC, while its dollar reserves reached around $4.8 billion.

Market participants believe that with Bitcoin's price recovery and improving investor risk appetite, Strategy-related securities have recently gained an opportunity for repricing. However, the future performance of MSTR and STRC remains highly dependent on Bitcoin price movements and the continued execution of the company's Bitcoin treasury strategy.