STRC is back at $100, and Strategy has Bitcoin on its radar

Michael Saylor hinted that Strategy made another Bitcoin purchase over the past week as the company’s preferred security, STRC, reclaimed its par value of $100. Saylor shared the company’s Bitcoin portfolio tracker on X with the caption, “Connecting the dots.”

The co-founder’s post came as STRC returned to its $100 par value after trading below that level earlier in the year. Strategy had primarily used proceeds from selling STRC shares to fund Bitcoin purchases before the security lost its par value amid the crypto bear market.

Such X posts have typically preceded a Bitcoin purchase announcement the following day, when the company files its Form 8-k with the SEC. A potential purchase over the past week would mark Strategy’s second consecutive weekly Bitcoin purchase.

Strategy bought about $65 million worth of Bitcoin two weeks ago, according to CoinGape. The company’s recent Bitcoin buying has continued despite the volatility surrounding its latest acquisition.