Bitcoin24h $85,319.97+0.57%

Ethereum24h $2,703.79+0.83%

BNB24h $788.98+1.16%

XRP24h $1.50+0.87%

Solana24h $121.66+1.59%

TRON24h $0.3356-0.50%

Hyperliquid24h $89.96+1.12%

Zcash24h $1,333.35+2.88%

Dogecoin24h $0.0944+1.32%

Chainlink24h $14.14+2.01%

Strategy has burned through 64% of its STRC rescue fund

Strategy has burned through 64% of its $2B STRC rescue fund, leaving less than $724M after 10 weeks of buybacks.

Strategy paid $100M extra to buy back the bitcoin it sold

Strategy spent recent weeks rebuying 5,553 of the BTC it sold this summer. After selling low and re-buying high, the cost exceeds $100M.

Jim Chanos has called the ballooning share count at Strategy a “pure arbitrage” opportunity to bet against MSTR while staying long BTC.

It has been a year since Michael Saylor’s Strategy launched STRC, and the price of MSTR has declined 75% since it started trading.

Strategy’s basic mNAV stood at 2.04x two years ago. On Wednesday it read 0.68x, a decline of exactly two-thirds.