Saylor says MSTR buybacks not a priority as Strategy holds $4.8B cash

Michael Saylor, chairman of Strategy, said share buybacks of MSTR are not currently a company priority, though the company could repurchase shares if the stock trades at a steep discount to net asset value, according to CoinDesk. Saylor said Strategy is currently focused on its STRC preferred stock business and building cash reserves, with about $4.8 billion in cash on hand. He said ample cash provides flexibility for additional Bitcoin purchases, buybacks of common and preferred shares, and debt repayment. Saylor added Strategy could also sell Bitcoin if needed to keep STRC dividends stable. Strategy is aiming to keep STRC near its $100 issue price, while Saylor emphasized MSTR investors should take a long-term view of at least four years.