Strategy’s STRC remains near $97 despite $635.2 million buyback effort

Strategy’s STRC preferred security is still trading around $97, leaving it below its $100 par value as Michael Saylor faces an informal Sept. 8 target for restoring the level. According to CryptoSlate, the company has spent $635.2 million on aggressive buybacks, but the additional financial activity needed to close the remaining gap is increasing costs. STRC continues to carry a 12% rate and is linked to a Bitcoin yield product valued at $10 billion. Saylor has roughly one week to coordinate efforts aimed at bringing the security back to par, although the supplied report does not indicate whether the target will be met. The development keeps attention on Strategy’s preferred security and the funding demands associated with supporting its market level.