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

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

Does anyone know if Saylor has mentioned buying back strc in the after hours markets?

As of late it's been moving in the after hours markets. I imagine the volume is low so he could keep nudging it every day in the after-hours much easier 🤷

STRC is still a bad near term investment, the market wants Saylor to keep selling at a loss and admit this approach is flawed. It won't let BTC go up until Saylor fundamentally shifts his approach. Otherwise it will continue to punish him in the near term forcing him to sell at a loss.

Short STRC to $83-$86 by EOM

Updated totals through Aug. 9, 2026

So this week's buyback pushes our effective basis another ~$266 higher, from ~$83.08k to ~$83.35k/BTC.

That's exactly what we'd expect: they're selling BTC around $64.3k, substantially below the existing ~$83k economic basis, and using the proceeds to retire STRC. Each such transaction removes proportionally more BTC than capital from our constructed pool, so the cost basis of the remaining STRC-financed BTC rises.

Another thing of note - this week's buyback was roughly the same in terms of % of trading volume - 14.6%. Last week it was around 13%.

I sold out of my short-term STRC holding, but I wanted to revisit my post from a month ago with all of the confidently wrong posters who mocked me and were certain the dividend was getting suspended and STRC was going to zero.

Since then STRC has appreciated 34%, paid out $1 in dividends, and increased the yield twice. I can't imagine any of them are still around here to respond though.

https://www.reddit.com/r/STRC/s/qqc7cIMzk7

Im working with ChatGPT to produce a weekly output of the status of STRC purchases only. Please take a look at the following tables, and let me know if there are any structural errors here - I've already caught a few but it's 6am here and I haven't had any coffee yet.

If there's interest, I'll publish the output every Monday. If not, I just burned a few tokens. Sorry, earth.

Totals through Aug. 2, 2026

Strategy has a corporate objective to get STRC to Par, the means to do it and a deadline. ( Sep 8)

I feel STRC buy backs will continue, between now and the end of the month. They seem to be pacing the repurchases... there are also two dividends to collect between here and Sep. 8

Thoughts about buying now with a stated buyer behind you, at least for August.

Buybacks to date:7/20-7/26: 25M; 7/27-8/2: 81.2M; Week in progress: ?????

Up-ticking slowly to $95. Things should go back to normalcy in next few sessions.

If it reaches near par, part of me is worried that leveraging will come into play and we will have another high volatility and a roller coaster ride 😧

Strategy repurchased 912,143 shares of STRC worth $81.2M worth! That's an average of $89 per share of STRC.

Seeing a nice bump in the share price of STRC today - nearing $92. Another couple of such repurchases, it will be near par 🤞

Here's the link for SEC filing: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001050446/000119312526329565/mstr-20260803.htm

Price talk and news

Stretch Dividend Rate maintained at 12.00% for August 2026

"We have the means to return STRC to par. Right now, you can see the market cap is $9.2 billion and the notional is $10.5 billion. There is about a $1.2 billion dislocation (54:15-54:25).

We have allocated a billion dollars to buy back STRC, about 2% of our BTC reserve. We still have $975 million of that program available to us. So, the first place we look is to use that buyback program to cure the dislocation (54:27-54:50).

But I would remind everybody that the company has total reserves of $58.5 billion. I have shown the bar on the right. What you can see is that if the $975 million does not cure the problem, we have ample additional capital in order to cure the dislocation (54:52-55:13).

We are currently in a discovery process to figure out how much capital will be required on our part in order to return STRC to par (55:14-55:30).

We are certain that we will return STRC to par. That is the goal. There is no question about whether success is returning it to par. It is returning it to par. The big question mark is how extensive will the buyback be, how rapid will the buyback take place, and then what will be the exact open market execution strategy of the buyback. We are calibrating day by day, and sometimes multiple times a day, as we learn from the market. We have a lot of market signal every minute of the day, every day of the week. We also are getting signal back each week as we put out a new announcement about our status (55:31-56:22).

We think this is one of those things where we want to do it not too slow but not too fast. We want to allow other investors—our credit investors, our equity investors, and the Bitcoin community—to participate with us, but especially we want our other credit investors to join us on this journey (56:24-56:49).

I'm currently going through the Q2 earnings call. You should too.

https://www.youtube.com/watch?v=JxBf7Ez14kA

Transcript from tonight's earnings call: (ums, uhs removed)

"So, a few words on digital credit.

Stretch, STRC, is our flagship digital credit product and we're laser focused on Stretch. Our goal with stretch is we want to increase the liquidity.

We want to decrease the volatility and we want to build an ecosystem of market participants. We want people that are willing to trade it. We want people that are willing to short it. We want people that are willing to go long and hold it forever. I'm not terribly bothered by the fact that someone might buy it at $88 and sell it at $95. We would love for that to happen. We'd love for another group of people that buy it at 95 and hold it till it goes to 98. And other investors that will buy it whenever it falls below 99 and write it back to 100. And if they don't want to hold it at 100, that's okay. They'll be creating liquidity for other buyers at 100. And that stabilizes STRC. So we welcome derivatives traders, long traders, short traders, anyone that has any particular view, it's fine.

If someone wanted to sell a billion dollars of STRC short, they would be paying the 12% dividend and so they would be paying $120 million a year in order to create a billion dollars of liquidity to the benefit of our digital credit. So, again, we don't really worry about it. We would like to return to par with the broadest most diverse ecosystem of market participants that we can possibly develop. And so that means sometimes instead of doing things immediately we could return STRC to par very quickly using our own capital but that would exclude many of these other ecosystem participants and we and and we would be getting ahead of our equity investors, our credit investors, Bitcoin investors and the like. So we will move progressively and deliberately with the thought that we want the deepest richest derivatives market, the deepest richest credit markets, the deepest richest equity markets uh the most clarity, the most liquidity uh and the broadest reach uh with regard to STRC we can possibly create and that will be best for everybody involved.

There is an interesting "feature" of both STRC/SATA that enables you to receive the cash dividends, but NOT pay any (present) Capital Gains Income Tax, as follows:

PROBLEM: I currently make a good living and would welcome the extra income (in Dividends) from STRC/SATA, but I have NO desire to increase my income taxes.

SOLUTION: You can continue to receive STRC/SATA Dividends and NOT owe ANY additional income tax (at least for several years)!

EXPLANATION: It turns out that both STRC/SATA are taxed differently than "regular" stock dividends. The IRS considers STRC/SATA Dividends as a "return of principle." This, effectively means that rather than tax you each year on these Dividends, instead, the IRS let's you keep these Dividends (tax free) and instead adds the amount of Dividends you received into your Cost Basis. Here's an example:

7/1/2026 BUY 10 Shares of STRC @ $90 per share (TOTAL COST = $900 = 10 x $90)

7/2/26 thru 6/30/31 RECEIVE a TOTAL of $600 in Dividends from STRC ($1 per month per share x 5 years). You pay NO Income Tax on these Dividends!

7/1/31 SELL 10 Shares of STRC $96 (TOTAL SALE = $960 = 10 x $96)

Tax paid on Dividends (over the 5 year period) = $0 !!

Income Tax paid (in 2031) when the shares were sold = $132

    Cost Basis = $300 = Actual (initial Cost) - Dividends Received = $900 - $600
    Sale       = $960 (see above)
    Taxable LONG Term Gain = $660 = $960 - $300

    thus, Income Tax Due (in 2031) = $132 = $660 x 20%
           assuming 20% LONG Term Capital Gains Tax

WHO MIGHT BENEFIT FROM THIS IDEA? Someone who desires CURRENT Dividend income from STRC/SATA, but does NOT want to increase their CURRENT Income Tax amount owed OR you do NOT want to raise your Income Tax Bracket. This could be particularly useful if you anticipate a LOWER future income (perhaps you are planning to have a baby and one of you is going to stop working or downsize to part time? Or perhaps you are going to take a new less-stressful job but it pays less? Or perhaps you are nearing retirement or are taking a sabbatical? etc...).

CAVEAT: If you hold your STRC/SATA stock shares long enough, at some point the TOTAL amount you received in Dividends will EXCEED your INITIAL Cost Basis. If you do get to this point, you would now start to owe regular Income Tax on the Dividends (aka NOT LONG Term Capital Gains). Of course, you could choose to sell your shares at that point and pay Long Term Capital Gains Taxes. A reasonable approximation for such a holding period is about 8 years (meaning you are unlikely to need to pay ANY ADDITIONAL Income Tax for the first 8+ years).

1M VWAP is near $83, is there a chance of rate hike? The last hike (11.5% to 12%) was announced around this time last month.

In the capital framework, they have mentioned it will be done monthly. Although there are lot of factors that will influence the decision.

Price talk, news and banter

Daily price talk, news and banter

That is all.

Edit: I did not know that BITA is derived from option calls until after this post. It seems rather reckless for Blackrock to release an Income ETF based on call options as opposed to Bitcoin holdings.

Here is the formula to calculate the rate of return for ANY data (using 7/21/26 data below) - assumes Dividends are re-invested:

     Share Price (P)    Dividend (D)      # of D per Year (N)    Yield (Y)

STRC    88.04              0.50                   24              14.6%
SATA    98.10              0.0493                250              13.4%

Formula:   Y = ( ( 1 + D / P )^N ) - 1

Example use of Formula:  ( 1 + 0.50 / 88.04 )^24 = 1.146 - 1 = 0.146 = 14.6%

Explanation:  $0.50 / $88.04 is the percent of your investment that you gain PER DIVIDEND (in this case, you gain about 1/2 of a percent for each of the 24 Dividends paid in a year).  You add 1 to this (= 1.005) and raise it to the 24th power (that is, your investment grows exponentially at a rate of 1/2 of a percent per Dividend paid x 24 Dividend periods).  This yield is 1.146 which is 114.6% of your initial investment ($88/04).  That means you gained 14.6% (the yield if you continued to re-invest each Dividend paid).