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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.

It’s been four months since Strategy’s STRC broke parity and its execs made getting it back to its $100 peg their number one priority.

Strategy’s STRC, which pays twice-monthly dividends on $100/share of par value, fell from parity on May 15 and hasn’t returned.

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