Le announced the purchase on June 22 via X, pledging to hold the position until the stock returns to par value. The investment provided a brief lifeline for STRC, which climbed 1.46% to $89.88 following the disclosure before settling at $89.20. The stock had previously slumped below $83, a decline that complicates the company’s at-the-market share issuance program. When STRC trades above $100, Strategy uses the proceeds to fund its massive Bitcoin acquisitions; when it falls below, that capital pipeline narrows significantly.
Executive Chairman Michael Saylor has pushed back against mounting criticism, emphasizing that the company’s Bitcoin and cash reserves exceed its outstanding debt by approximately $48 billion. To bolster balance sheet confidence, Strategy recently reported a $1.4 billion U.S. dollar reserve, bolstered by the sale of 2.71 million MSTR shares that netted $335.5 million. Despite these maneuvers, analysts including Arca’s Jeff Dorman and market skeptic Peter Schiff continue to question the sustainability of the firm's obligations. Critics have drawn parallels to past failed crypto ecosystems and suggested that the company may eventually be forced to liquidate portions of its 847,363 BTC holdings to satisfy dividend requirements and stabilize its capital structure.
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