Michael Saylor says Strategy prioritizes diverse market participation over $STRC buybacks

Michael Saylor has a specific vision for Strategy’s $STRC preferred stock, and it does not involve the company simply buying its way back to par. The executive chairman said Strategy is deliberately avoiding an over-reliance on buybacks for $STRC, preferring instead to cultivate a broad, organic market ecosystem around the security. What Strategy actually wants for $STRC The goal, as Saylor has framed it, is for $STRC to trade near its $100 par value with high liquidity and low volatility. The target audience is investors who want stable, income-generating exposure to Strategy’s broader Bitcoin thesis without the extreme swings of the common stock. Right now, $STRC is trading in the $85 to $87 range, which puts it roughly 13% to 15% below that $100 par target. The gap exists because of recent market dislocations, not because anything has fundamentally changed about the instrument itself. The preferred stock carries a 12% dividend rate. At current trading prices, the effective yield is even higher for buyers coming in today. Saylor has also drawn a clear line: Strategy will not issue new $STRC shares below the $100 par value. The buyback math In June 2026, the company announced a ca...