Strategy plans to support a $1 billion preferred stock buyback through a $1.25 billion Bitcoin monetization program

Odaily reported that on June 29, Strategy raised the annualized dividend on STRC to 12% and authorized a $1 billion buyback program covering four preferred securities: STRC, STRF, STRD, and STRK, with STRC being the initial preferred buyback target. Strategy disclosed that the buyback funds will not come from its approximately $2.55 billion cash reserve, but may be sourced from a $1.25 billion Bitcoin monetization program approved during the same period. STRC traded in the mid-to-high $80 range this week, dipping below $85 on some trading days, falling short of Strategy's long-term trading target of $99 to $100 set by the company. Peter Schiff stated that STRC trading below $87 indicates Wall Street is questioning Bitcoin's growth rate. (Bitcoin.com News).