Strategy’s STRC nears $100 level that could reopen a Bitcoin funding channel

Strategy's STRC preferred stock closed eight cents below its $100 stated value as shareholders approved daily dividends on four preferred securities. Executive Chairman Michael Saylor said preliminary results from the Oct. 28 vote showed 99.3% of votes cast supported the amendment, allowing the company's four US-listed preferred securities, STRC, STRF, STRK and STRD, to accrue dividends every calendar day. STRC rose 0.4% to close Wednesday at $99.92, eight cents below its $100 stated value. Strategy's stated policy is to refrain from issuing new STRC shares below $100. A sustained return to that level could reopen one source of funding for additional Bitcoin purchases, after more than $2 billion of STRC buybacks. Under the approved arrangement , STRC's first daily dividend record date is Nov. 1, with payment scheduled for Nov.

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