Strategy Inc., led by Michael Saylor, decided not to sell Bitcoin this week, opting instead to repurchase $132 million of its Series A perpetual preferred stock (STRC) and increase its USD reserves by $150 million. This move indicates a focus on liquidity and support for its preferred stock rather than accumulating more Bitcoin. The odds of STRC hitting $100 by December 31 have increased, with market makers currently pricing these odds at 67 percent. This financial maneuver aims to strengthen the company’s financial position and reassure investors of its commitment to maintaining strong preferred-stock backing.
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