Strategy has burned through 64% of its STRC rescue fund

What happened

Strategy has burned through 64% of its STRC rescue fund, according to Protos. Strategy has burned through 64% of its $2B STRC rescue fund, leaving less than $724M after 10 weeks of buybacks. The post Strategy has burned through 64% of its STRC rescue fund appeared first on Protos .

Strategy, Michael Saylor’s BTC treasury company, has expended 64% of its once-$2 billion fund to repurchase STRC. After 10 weeks of trying to force its price higher, the company has already spent $1.28 billion and, as of Monday’s filing, had less than $724 million left.

STRC was supposed to sustain a $100 per share price, but hasn’t for most of its trading history. When pitching it, Saylor and Strategy’s CEO have irresponsibly likened it to a high-yield bank account or money market , talking about its generous dividends while downplaying the risk that the share price could collapse.