Cantor Says Strategy’s Recovery Hinges on Restoring STRC to Par

Cantor said Strategy’s (MSTR) recovery depends on restoring its STRC preferred stock to par, calling it key to restarting the company’s bitcoin acquisition engine and strengthening its capital structure. According to CoinDesk, after meeting Executive Chairman Michael Saylor, the bank said it is more confident in management’s plan and expects frequent actions to build cash reserves backing STRC dividends until the preferred trades back to $100, with buybacks possible. Strategy also announced the sale of $216 million of bitcoin to fund STRC dividends.