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Can It Recover From $100 After Authorizing Bitcoin Sales?

Can It Recover From $100 After Authorizing Bitcoin Sales?

TradingKey – Strategy Inc (NASDAQ: MSTR) is trading at $101.96, sitting inside a descending channel on the 4H timeframe since the company issued a game-changing announcement on June 29th: the board approved a Digital Credit Capital Framework which, for the first time in the history of Strategy, authorizes a $1.25 billion Bitcoin Monetization Program for selective sales of Bitcoin.

It also approves a $1 billion stock buyback for MSTR Class A common shares, a $1 billion buyback program for Digital Credit Securities (consisting primarily of STRC preferred stock), an increase in the STRC dividend to 12% from 11.5%, and the USD Reserve Policy, which reserves $2.55 billion in cash along with the potential $1.25 billion from monetizing BTC for…

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