Michael Saylor is not blinking. The executive chairman of Strategy, the Bitcoin treasury company formerly known as MicroStrategy, went on record this week reaffirming that $STRC will return to its par value of $100 and that the company stands ready to pour more capital into buybacks if the market tests that resolve.
This is not just talk. Strategy has already put $25 million to work, repurchasing 288,930 shares of $STRC at an average price of $86.52 per share. That leaves $975 million sitting in the chamber from a $1 billion authorized buyback program.
What is $STRC and why does par value matter
$STRC is one of Strategy’s Digital Credit Securities, a category of preferred equity instruments the company has been building out as part of a broader capital markets strategy. It carries a 12% dividend.
Saylor addressed this directly, stating that Strategy will not issue new $STRC below par. Instead, it is absorbing supply through buybacks to create upward price pressure.
