Strategy’s STRC Reclaims $100 After $2.25 Billion in Buybacks

Strategy’s Stretch preferred stock (STRC) returned to the $100 level on November 4 for the first time since May 2026. The recovery comes after months of share buybacks and higher dividend payments as the Bitcoin treasury company worked to bring the stock back to its stated value. 

In an X post on Wednesday, Strategy highlighted the development. The return to $100 could allow Strategy to resume selling new STRC shares through its at-the-market offering program. The company uses proceeds from these sales to fund additional Bitcoin purchases.

Strategy had stopped new STRC share issuance while the stock traded below its $100 target, limiting its ability to use the preferred stock as a source of funding. 

How Strategy’s preferred stock works

STRC, officially known as Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, launched in July 2025 at $90 with an initial annual dividend rate of 9%. 

Unlike Strategy’s common stock, MSTR, which often moves with Bitcoin prices, STRC is designed to provide investors with regular dividend payments. It has no fixed maturity date at which the company must repay the original investment. 

The stock came under pressure earlier this year as Bitcoin prices fell. According to data from Yahoo Finance (at 19:02 UTC on November 4), STRC had traded below $80 at times in June. 

The decline continued even as Strategy raised its annual dividend rate from 11.25% in February to 11.5% in March and eventually 12% by the summer. The higher payments were meant to encourage investors to buy and hold the shares, but the price continued to struggle. 

Stretch Dividend Rate maintained at 11.50% for April 2026. $STRC pic.twitter.com/8Jl0QlfNhK

— Michael Saylor (@saylor) April 1, 2026

Strategy spent $2.25 billion buying back shares

Strategy responded by buying back its own preferred shares. According to the company’s October 29 financial results, it had repurchased approximately $2.04 billion worth of STRC shares as of October 25, 2026.

The company continued to buyback between October 26 and November 1, purchasing another 2,092,035 STRC shares for approximately $208.2 million. This brings its reported repurchases across the two periods to approximately $2.248 billion, which rounds to $2.25 billion. These purchases reduced the number of STRC shares outstanding and the company’s future dividend obligations. Strategy also paused some Bitcoin purchases as it focused on supporting STRC.

Another important change came on October 28, when Strategy shareholders approved daily dividend payments for STRC and three other preferred stocks. The proposal received 99.3% support. 

$MSTR shareholders have approved the Daily Dividends amendment. Preliminary results show 99.3% of votes cast were in favor. The amendment enables $STRF, $STRC, $STRK and $STRD to accrue dividends every calendar day. Thank you to all who voted. https://t.co/w1Cp4GKUy5

— Michael Saylor (@saylor) October 28, 2026

Previously, STRC paid dividends twice a month, but the new system allows investors to receive payments daily. The first distributions began on November 2, while Strategy set the November dividend rate at 12% annually, equal to $1 per share for the month.

Strategy continues adding Bitcoin to its holdings

Meanwhile, Strategy continued adding Bitcoin to its growing reserve. In a November 2 filing with the US Securities and Exchange Commission (SEC), the company reported buying 811 BTC between October 26 and November 1 for approximately $65.5 million. The purchase increased its total Bitcoin holdings to 849,327 BTC, acquired for about $64.08 billion at an average price of $75,451 per coin. 

Strategy has acquired 811 $BTC and repurchased $208M of $STRC. As of 11/1/26, we hold 849,327 BTC and $4.9B of USD Assets. $MSTRhttps://t.co/fk7kWJxf3L

— Strategy (@Strategy) November 2, 2026

During the same period, Strategy bought back 2,092,035 STRC shares for approximately $208.2 million and raised $164 million by selling MSTR common shares. The company also reported that $748.6 million remained available for preferred-stock repurchases.

With STRC back at $100, Strategy may have more room to resume issuing shares through its at-the-market program and use the proceeds to fund further Bitcoin purchases.

Also Read:  MSTR Stock Price Gains 4% as Strategy Adds 811 BTC and Buys Back STRC