On November 4, Strategy’s STRC preferred stock briefly reached $100 for the first time since May, hitting the company’s target price threshold for new share sales that could fund Bitcoin purchases.
According to Wu Blockchain, $100 is the lowest price at which Strategy targets issuing new STRC shares through its at-the-market offering program. The stock’s return to this level could pave the way for the company to reactivate a funding channel previously used for billions of dollars in Bitcoin purchases.
Previous sales funded $5.46 billion in Bitcoin purchases
According to the cited SEC filings, Strategy used the $5.46 billion in net proceeds from STRC sales in the second quarter of 2026 to purchase Bitcoin. In the third quarter, it did not sell STRC through this program.
From July through November 1, the company repurchased approximately $2.25 billion worth of STRC. As a result, the target price level for new sales has been reached again after repurchases took center stage for the stock in recent months.
The program has $17.51 billion in available capacity
As of November 1, $17.51 billion in available capacity remained in the STRC offering program. If Strategy sells new shares, the proceeds could be used to fund Bitcoin purchases.
However, this amount is not money already raised; it is the program’s remaining sales capacity. Because the latest filing did not report any new STRC sales, attention is turning to whether the company will use the funding channel again after the stock reached the $100 level.
Not investment advice.