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Strategy sells 1,690 Bitcoin to fund STRC buyback as dollar reserve hits $4.65B
Aug 10, 2026
< 1 min read
by Hannah Collymore
for CryptoPolitan
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Strategy (NASDAQ: MSTR) said it allocated 100% of the $108.6 million raised from selling 1,690 Bitcoin to buy back its Stretch (STRC) preferred shares in an effort to restore the $100 par value, per CEO Michael Salor. The firm also raised another $653.1 million by selling additional Bitcoin, a fundraising and buyback strategy that supports shareholder value and funding but reduces its Bitcoin reserves, with mixed implications for the broader crypto market and Bitcoin adoption.
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Dragging its Stretch (STRC) preferred shares back to par value at $100 remained the priority for chief executive Michael Salor and Strategy (NASDAQ: MSTR) as the firm reported that it allocated 100% of the $108.6 million it raised from selling 1,690 Bitcoins last week to buying back STRC. Strategy raised another $653.1 million by selling...
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In This News
Coins
$ 77.55K
-2.94%$ 0.000272
$ 127.64
-7.82%Predictions Markets
See what traders are focused on
Share: