Strategy’s STRC rebounds 30% as company builds cash reserve, bitcoin price stabilizes
Strategy (STRC) has seen its stock price rebound by 30% following a period of bitcoin price stabilization and strategic asset management. The company sold a portion of its bitcoin holdings to fund dividends and increased its U.S. dollar cash reserves to $4 billion.
STRC bottomed in late June around $71 as bitcoin fell below $60,000. Since then, Strategy has sold 5,226 BTC for $321 million across three separate transactions, reducing its bitcoin holdings from 847,363 BTC to approximately 842,137 BTC. The sales were intended, in part, to demonstrate that the company can use bitcoin to meet its dividend obligations, rather than treating it as an idle asset.
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