Strategy plans to support $1 billion in preferred share buybacks through a $1.25 billion bitcoin monetization plan

Strategy raised its STRC annualized dividend to 12% on June 29 and authorized a $1 billion repurchase program covering four preferred securities: STRC, STRF, STRD and STRK, with STRC being the initial preferred repurchase target. Strategy disclosed that repurchase funds will not come from its approximately $2.55 billion reserves, but may come from the $1.25 billion bitcoin monetization plan approved during the same period. STRC traded at a mid-high of $80 this week, falling below $85 on some trading days, below Strategy's long-term trading target of $99 to $100. Peter Schiff said the STRC's price below $87 shows Wall Street is questioning Bitcoin's growth rate.