On the last trading day of this week, shares of Strategy reached their highest level in the past two months.
MSTR common shares rose 7.5% in early trading and exceeded $120. STRC preferred shares recovered to $96 for the first time since June. This is already close to the base level of $100, which must be maintained to pay the monthly dividend of 11.5% per annum.
The recovery of Strategy's assets began after the company announced earlier this week the sale of MSTR for nearly $333.7 million. Part of the funds ($52.4 million) went to pay dividends to STRC holders, another $132.2 million—for the buyback of preferred shares. The firm also increased its US dollar reserves to $4.8 billion but again did not purchase any bitcoin. Strategy's balance sheet holds 840,447 BTC worth $65.2 billion, giving it again an unrealized profit of about $1.6 billion.
The rise in shares of Michael Saylor's company occurred against the backdrop of a recovery in the cryptocurrency market. This week, bitcoin gained 22.72%, according to CoinMarketCap. Securities of issuers associated with bitcoin also rose this week. For example, SATA preferred shares of Strive returned to the $100 mark on Friday after falling below $84 at the end of June.
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