Strategy (NASDAQ: MSTR) sold 1,638 Bitcoin on August 4 and used the proceeds to repurchase $81.2 million worth of STRC shares. The move pushed STRC to a seven-week high of $92, while MSTR stock gained 1.69% to close at $94.
The Bitcoin Sale
The company’s decision to offload a chunk of its Bitcoin holdings came as the cryptocurrency traded near recent lows. Strategy didn’t disclose the exact sale price, but the $81.2 million buyback suggests an average of roughly $49,500 per Bitcoin. The sale trimmed Strategy’s massive BTC stash, though the firm still holds tens of thousands of coins.
Buyback Lifts STRC
The repurchase program targeted STRC shares, which had been under pressure in recent weeks. The $81.2 million buyback pushed the stock to $92, its highest level in seven weeks. That rally didn’t spill over to MSTR, however. The parent company’s shares rose only modestly, closing at $94.
Analysts Trim MSTR Targets
Wall Street analysts have lowered their price targets for MSTR despite the STRC rally. The trimmed targets suggest caution about Strategy’s core business or its Bitcoin exposure. The divergence between STRC’s surge and MSTR’s muted gain — plus the analyst downgrades — leaves investors wondering whether the buyback is a one-off or a signal of a broader shift in Strategy’s capital allocation.
