Strategy accounted for over 20% of weekly trading volume in STRC, its key Bitcoin financing instrument, during most of September. The company had spent approximately $1.45 billion of its $2 billion repurchase authorization, leaving only $547.2 million available. This dependency raises questions about the market’s ability to survive without continued issuer support as the authorization approaches its limit. A vote is scheduled for October 28 on introducing daily dividends across Strategy’s US-listed preferred stocks. The goal is to attract independent investors, including family offices and specialist credit funds, to reduce reliance on the company’s buybacks.
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