According to Michael Saylor, Strategy Inc.
(NASDAQ:MSTR) may sell Bitcoin (CRYPTO: BTC) to fund repurchases of STRC (NASDAQ:STRC), the preferred stock he says must return to its $100 stated value.
Allowing STRC to operate below par would amount to "creating a failed, flawed product," and Strategy should spend as much as $4 billion if necessary to make it work, Saylor stated.
"If it took an extra $4 billion, spend $4 billion," Saylor said during Strategy’s second-quarter earnings call Thursday.
"Just make the thing work." Saylor designed STRC with help from ChatGPT, only for the preferred stock to fall sharply below its $100 peg in June.
