Strategy, Michael Saylor’s BTC treasury company, has spent $1.28 billion of its $2 billion STRC repurchase fund. After ten weeks of trying to sustain the $100 per share price target, only $724 million remained as of September 29. STRC has traded in the $70s and $80s per share for most of its history, well below its stated objective. The company has repurchased 13.3 million STRC shares, roughly one in eight outstanding shares, funding these buybacks by diluting MSTR shareholders. The share price rebounded to $99.18 on Monday following this buying pressure.
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