Strategy Inc, the company formerly known as MicroStrategy that turned itself into a Bitcoin holding vehicle, is trying to fix a problem of its own making. CEO Phong Le has outlined a plan to stabilize the company’s perpetual preferred stock, STRC, which has been trading below its $100 par value, while simultaneously rebuilding cash reserves and resuming its signature move: buying more Bitcoin.
Le is putting his money where his mouth is. The CEO personally purchased $1 million worth of STRC, signaling confidence that the stock will recover to par. For a company that holds roughly 843,000 to 845,000 BTC, the preferred stock situation is less of an existential crisis and more of a nagging credibility issue that needs addressing before the next wave of capital raising can begin.
The 32 BTC sale that raised eyebrows
Strategy sold 32 BTC for approximately $2.5 million in late May or early June 2026, marking its first Bitcoin sale since December 2022. Le framed the sale as a systems test rather than a distress signal. The company wanted to verify that its internal processes for managing and liquidating Bitcoin actually work when needed.
The STRC problem
