Strategy sells BTC to buy STRC; $785M left to reach $100 par

Strategy is supporting its preferred stock, STRC, by buying shares in the open market while selling Bitcoin (BTC) to fund the effort. STRC is trading around $95, closing in on its $100 par value. Over the past three weeks, Strategy purchased about 2.3 million STRC shares (~$214.8M), including a latest large buy of 1.1 million shares for $108.6M (week ended Aug. 9). Funding has come from BTC sales. In the week ended Aug. 9, Strategy sold 1,690 BTC for $108.6M (avg. $64,262). A week earlier it sold 1,638 BTC for $104.7M, with proceeds split between a $81.2M STRC repurchase and additional MSTR issuance. In total, Strategy sold 3,328 BTC for about $213.3M while spending roughly $189.8M on STRC over two weeks. Traders are also watching the “last $5 gap” to $100. Strategy still has about $785.2M authorized under its $1B Digital Credit Securities Repurchase Program approved in June, giving it room to finish the par-value support. Separately, Strategy raised $653.1M via common stock issuance, lifting its USD reserve to a record $4.65B to better cover preferred dividends and debt interest. Key takeaway for crypto traders: if Strategy can close the STRC discount without more BTC sales, sell-pressure on the BTC market may ease; if not, renewed BTC selling could add near-term volatility.