Michael Saylor explains why Wall Street prefers cash over Bitcoin
STRC Strategy Inc - VR PRF PERPETUAL USD 100 - Ser A
$97.72 -1.82%
View chart & analysis → - 1Strategy Chairman Michael Saylor said that Bitcoin collateral alone makes it difficult to maintain STRC's target price of $100.
- 2After STRC's share price fell to approximately $75, Strategy recorded approximately $1.5 billion in STRC share buybacks.
- 3Strategy currently holds cash equivalent to approximately 3.5 years of dividends.
So what's the key point?
The Strategy Chairman said it is difficult for the company's stock price to stay at $100 with only Bitcoin. Since the company holds a lot of cash, it is buying back shares when the stock price falls.
Source BeInCrypto · View original ↗
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