STRC buyback $2.04 billion... Sif 'died'

Peter Schiff criticized Strategy's reliance on buybacks to support its STRC preferred stock, saying the instrument is effectively dead and kept alive only by repurchases. Strategy disclosed in its October 29 third-quarter report that it spent $2.04 billion repurchasing STRC through October 25. Schiff made the remark to Michael Saylor on X, arguing the issuer's own buying is propping up the price. The debate matters because it questions whether demand for Strategy's preferred stock is organic or manufactured by the company itself. Watch next for further STRC repurchase disclosures and any shift in the preferred's floating-rate pricing.