Strategy repurchased $368.7 million in STRC over two weeks, roughly 7 times its Bitcoin purchases during the same period, closing near $100

Odaily News: Bitcoin treasury company Strategy repurchased a total of $3.687 million in STRC from September 28 to October 11, while purchasing only 584 Bitcoins during the same period, with the repurchase amount being approximately 7 times the amount spent on Bitcoin purchases. During this period, Strategy repurchased 3,705,947 shares of STRC, and the amount spent on Bitcoin purchases was $50.2 million.

Strategy's Variable Rate Series A Perpetual Preferred Stock (STRC) closed at $99.88 on October 12, the highest closing price since May, rebounding significantly from its June low of $71.25. From October 5 to October 9, Strategy's repurchase amount accounted for approximately 30% of STRC's trading volume during the same period.

Strategy disclosed on September 30 that STRC's annual dividend rate remains at 12%, and management will recommend maintaining this rate until STRC trades consistently and healthily near $100. The aforementioned repurchases are expected to reduce annual dividend expenses by approximately $44.5 million.

As of October 11, the remaining funds under Strategy's preferred stock repurchase program amounted to $354.8 million. October 15 is the STRC dividend record date, and a special shareholder meeting will be held on October 28 to vote on the daily dividend payment arrangement. (Bitcoin.com News)