Strategy’s $150 million-a-day STRC market has a hidden dependency on its own buybacks
Strategy's $1.45 billion preferred-share buyback program is supporting a substantial share of trading in one of its key Bitcoin financing instruments. According to a Keyrock research report, Strategy's repurchases accounted for more than 20% of weekly trading volume in its variable-rate preferred stock, STRC, during almost every week of September. The company's share reached about […] The post Strategy’s $150 million-a-day STRC market has a hidden dependency on its own buybacks appeared first on CryptoSlate.
Key Takeaways
- Strategy's $1.45 billion preferred-share buyback program is supporting a substantial share of trading in one of its key Bitcoin financing instruments.
- According to a Keyrock research report, Strategy's repurchases accounted for more than 20% of weekly trading volume in its variable-rate preferred stock, STRC, during almost every week of September.
- The company's share reached about […] The post Strategy’s $150 million-a-day STRC market has a hidden dependency on its own buybacks appeared first on CryptoSlate.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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