Strategy Shares Hit Two-Month High as STRC and Bitcoin Both Rebound

Strategy shares climbed to their highest level in two months on Friday, rising 7.5% above $120, as Bitcoin briefly touched $79,400 and the company’s STRC preferred stock continued recovering toward its $100 target price.

STRC Recovery Signals Improved Confidence

STRC, which Strategy uses to help fund its Bitcoin purchases, climbed above $96 for the first time since June after falling below $70 during a recent selloff that raised concerns about the company’s ability to cover its roughly 11.5% dividend. The preferred stock is designed to trade near $100 through a variable monthly dividend rate. The rebound follows Strategy’s disclosure that it sold $333.7 million in MSTR shares between August 10 and 16, directing proceeds toward STRC dividends and share repurchases rather than buying additional Bitcoin.

Strategy Returns to Unrealized Profit

The company still holds 840,447 BTC, worth approximately $65.2 billion, putting it back into unrealized profit of around $1.6 billion. Strategy also increased its cash reserves to $4.8 billion. Similar bitcoin-linked preferred securities saw comparable improvement, with Strive’s SATA shares also returning to $100 after dipping below $84 in late June.

Index Debate and New Investor Interest

Separately, TD Cowen criticized a proposed MSCI methodology that could remove Strategy and similar digital asset treasury companies from a major market index, calling the approach arbitrary and poorly justified. Meanwhile, Chinese microcap MicroCloud Hologram disclosed acquiring 140,268 MSTR shares worth about $15.8 million through structured note settlements.