Strategy, Michael Saylor’s BTC treasury company, has expended 64% of its once-$2 billion fund to repurchase STRC.
After 10 weeks of trying to force its price higher, the company has already spent $1.28 billion and, as of Monday’s filing, had less than $724 million left.
STRC was supposed to sustain a $100 per share price, but hasn’t for most of its trading history. When pitching it, Saylor and Strategy’s CEO have irresponsibly likened it to a high-yield bank account or money market, talking about its generous dividends while downplaying the risk that the share price could collapse.
In fact, STRC has spent more than a month trading in the $70s and $80s per share, and shares have traded below $99 on the majority of trading days over the past year.
...read more at protos.com
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For the most part they have done a good job returning it near par. The question is will be they be able to do it again if there is another shock and sharp drop in the near term.
I would imagine it will happen again, either in STRC or SATA. Paying daily dividends at higher than margin rates, invites all kinds of leverage.
Ain’t worried about NOTHIN
Man, whoever wrote this really missed the memo. The time to write rainbow bear articles was back in June, not now when STRC is trading within its official target band.
It's hilarious how easy it is to put a narrative spin on something. People will come to exactly opposite sentiments based on the same data.