May 26: The company confirmed that it used its cash reserve to finance the bond buyback. The transaction had reduced the fund to $871 million.
The buyback reduced this reserve to approximately six months of STRC dividend coverage. The company previously said it intended to maintain approximately 24 months of dividend coverage.
STRC was trading at $99.33, bitcoin was hovering around $77,000.
June 1: Strategy sold 32 BTC, its first bitcoin sale since 2022. The move appeared intended to demonstrate that the company was willing and able to sell the token if necessary to fund its dividend obligations.
The sale represented only 0.0038% of the company’s holdings. Nonetheless, the company’s common stock (MSTR) fell 5.9% and bitcoin fell to $70,500 before closing at $71,286. STRC closed at $98.07.
June 5: Bitcoin fell below $60,000 for the first time since October 2024, closing around $61,000, according to CoinDesk data. STRC fell to $90 to end the day at $93.40.
June 8: Strategy shareholders approve plan to pay STRC dividends twice a month. Strategy purchased 1,550 BTC and said its dollar reserve balance had increased to $1 billion.
June 15: Strategy purchased an additional 1,587 BTC and said its dollar reserve balance now stands at $1.1 billion.
