MicroStrategy's preferred stock STRC has climbed to $99.92, drawing close to its $100 peg and raising speculation that the company could resume its Bitcoin purchases. Matthew Sigel, head of digital asset research at VanEck, noted that historical patterns suggest the world's largest corporate Bitcoin holder could restart buying once the stock reaches par value.
Recovery From Losses
STRC crashed to nearly $70 in June amid concerns that MicroStrategy could be forced to liquidate Bitcoin holdings to fund dividend obligations. The stock has since recovered following a broader market rebound, STRC buybacks, and a standby cash reserve established to cover dividend payments during market downturns.
MicroStrategy has completed $2.05 billion in STRC buybacks, with $200 million repurchased in the most recent week alongside zero Bitcoin purchases. The company now officially pays dividends for STRC and other preferred stocks.
Bitcoin Holdings and Acquisition Pace
MicroStrategy currently holds 848,500 BTC and has acquired over 216,000 BTC since August of the prior year. During this period, the company accounted for 71% of Bitcoin treasury demand. However, the majority of these purchases occurred in late 2025 and the first half of 2026.
MicroStrategy's Bitcoin buying activity cooled in the second half of 2026. Since mid-October, overall Bitcoin demand turned negative, with exchange-traded funds becoming net sellers. Analysts have cautioned that sustained low demand could pressure Bitcoin's price if the trend continues.
