Strategy’s STRC Hits $100 Par for First Time Since May After Over $2 Billion in Buybacks
Strategy’s STRC preferred hit $100 par on Wednesday for the first time since May, after billions in buybacks, a 12% dividend rate and a switch to daily payouts.
Micah ZimmermanBitcoin Magazine · November 4, 2026 · 3h agoBrief · 1 min read
Strategy's Stretch preferred stock reached $100 today, a level not seen since May and the par value the firm had defended with over $2 billion in buybacks. The shares had dipped below $80 in June. Strategy says $100 is the threshold at which it will resume selling new shares to fund bitcoin purchases. Chairman Michael Saylor had committed to holding the shares at or above face value until that happened. Shareholders voted to move STRC and three other preferreds to daily dividends, ending the semi-monthly drops. Strategy shares rose 7% as bitcoin climbed above $80,000. The article points to two tests ahead: whether the company reopens its at-the-market program at $100 and whether buyers absorb the new shares.
Why it matters: The return to par bears on how Strategy funds its bitcoin holdings and covers preferred dividends, a model closely watched by readers following corporate bitcoin treasuries.
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