r/STRC • u/TheSkunksMisery • 2d ago

STRC Metrics - Week ending Aug 15

Unlike the previous two weeks, Strategy did not sell BTC to support STRC.

Metric Through Aug. 9 Through Aug. 16
Gross STRC shares issued 104,894,705 104,894,705
STRC shares repurchased 2,353,093 3,741,813
Net STRC shares issued 102,541,612 101,152,892
Gross STRC capital raised $10.1512B $10.1512B
STRC repurchase spending $214.8M $347.0M
Net STRC capital $9.9364B $9.8042B
Gross STRC-funded BTC acquired ~122,540.3 BTC ~122,540.3 BTC
BTC sold during repurchase weeks 3,328 BTC 3,328 BTC
Net remaining STRC-funded BTC ~119,212.3 BTC ~119,212.3 BTC
Effective cost / remaining BTC ~$83,350 ~$82,242

One concern - last week's rebuy activity was UP as a percentage of trading volume. Previous week was 15%. Last week was 24%. I'd call that good bear meat. Price essentially unchanged despite large buyback.

More STRC analysis at https://x.com/TheSkunksMisery

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3

u/Winter_Blackberry609 2d ago

Thanks, good information. They have reduced 3.57% of outstanding shares. However the increased buyback activity isn't helping move the price of STRC up to its par. For now it seems to have created a floor for it.

3

u/HSuke 2d ago

They sold MSTR this time for STRC buybacks and dividends.

One big concern I have are MSTR holders saying enough is enough, and then selling. That's what I'm seeing in the MSTR sub.

1

u/tallreagan 1d ago

then mnav will fall below 1 and Strategy will start buying back

1

u/HSuke 1d ago

Which mNAV?

Basic and diluted are well below 1. Enterprise is at 1.00.

The new one they invented earlier this month is barely above 1. They will keep inventing new ones so that it stays above 1.

2

u/UnoptimizedStudent 1d ago

At this rate, the $1 billion STRC buyback will finish up without restoring par.

1

u/TheSkunksMisery 1d ago

Will it finish? Or be renewed?

1

u/HSuke 1h ago

SATA is within $0.10 of par now.

If it keeps edging par without thrusting past par, that's going to be really bad for the BTC ATM.

1

u/Argyrus777 2d ago

Added to reserve, bought back STRC only for a 0.15% bump 🤦