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Strategy spent $176 million on Stretch buybacks instead of Bitcoin
StoneX analyst Mark Palmer compared Stretch buybacks of $176 million versus $29 million spent on Bitcoin, pointing to the role of STRC preferred stock in Strategy’s fundraising.
Bitcoin Magazine relays StoneX senior equity research analyst Mark Palmer’s view on Strategy’s capital allocation, focusing on the company’s choice to buy Stretch instead of adding to its Bitcoin position.
Palmer highlighted a buyback comparison, saying Strategy spent $176 million on Stretch buybacks versus $29 million buying Bitcoin.
He also linked the company’s preferred stock, STRC, to its fundraising, and discussed how Strategy’s $4.9 billion reserve is pushing the preferred stock back toward par, according to Bitcoin Magazine.
Bitcoin Magazine further notes Palmer’s argument that Strategy will not simply raise the Stretch dividend rate, with the discussion tied to daily dividends and the ex-dividend date timeline.
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