Michael Saylor, executive chairman of Strategy, reaffirmed that $STRC will return to its par value of $100. The company has already spent $25 million repurchasing 288,930 shares of $STRC at an average price of $86.52 per share, leaving $975 million remaining from a $1 billion authorized buyback program. $STRC is one of Strategy’s Digital Credit Securities, a preferred equity instrument carrying a 12% dividend. Strategy, which holds between 843,775 and 846,842 BTC, has committed not to issue new $STRC below par.
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