Strategy shares hit two-month high as STRC rebounds toward $100 alongside bitcoin

Strategy shares (MSTR) climbed to their highest level in two months on Friday as bitcoin (BTC) briefly pushed as high as $79,400, while the firm's STRC preferred stock continued to recover toward its $100 target.MSTR rose 7.5% to above $120 in early trading.Strategy's Variable Rate Series A Perpetual "Stretch" Preferred Stock, or STRC, also climbed above $96 for the first time since June. The preferred, which Strategy sells to fund much of its bitcoin buys in 2026, had fallen below $70 during a selloff that raised concerns of Strategy not having enough cash on hand to be able to service its roughly 11.5% APY dividend.STRC was designed to maintain a price near $100 through a variable monthly dividend rate.The rebound comes after Strategy said earlier this week that it sold $333.7 million of MSTR shares between Aug. 10 and Aug. 16, while making no bitcoin purchases or sales. Of the proceeds, $52.4 million went toward STRC dividends and $132.2 million toward STRC repurchases under its Digital Credit Securities Repurchase Program.Strategy also increased its USD reserve to $4.8 billion. The company still holds 840,447 BTC worth approximately $65.2 billion, once again putting it back in unrealized profit of around $1.6 billion, according to SaylorTracker.The recovery has also extended to similar bitcoin-linked preferred securities. Strive's SATA preferred shares returned to $100 on Friday after falling below $84 in late June.Meanwhile, TD Cowen pushed back against MSCI's methodology that could result in the removal of Strategy and other digital asset treasuries from its ACWI IMI index, arguing that those companies are operating businesses, not just passive asset vehicles. The firm's Index Product Group called the methodology arbitrary, overly complex and directed at excluding certain types of issuers," adding that the proposal "should be DOA."Separately, Chinese microcap MicroCloud Hologram said Friday that it obtained 140,268 MSTR shares through maturity and settlement of structured notes. The shares were worth around $15.8 million based on MSTR's closing price at the time.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.