# Peter Schiff Calls Strategy’s STRC ‘Dead’ as Buybacks Continue By John Kim Canonical URL: https://www.tokenpost.com/news/business/53166 Published: 2026-11-10T15:01:43.000Z Updated: 2026-11-10T15:01:43.000Z Section: Business > Strategy spent $188.3 million repurchasing STRC shares during Nov. 2–8, funding the purchases with proceeds from common stock sales. Economist Peter Schiff called Strategy’s STRC preferred stock “dead” on Nov. 9, challenging the company’s use of buybacks to support a security it wants trading near $100. On Nov. 9, Strategy disclosed [the Nov. 2–8 STRC repurchases](). It bought 1,887,464 shares for $188.3 million during the week, funding the purchases with proceeds from sales of its MSTR common stock. Strategy sold 2,051,348 MSTR shares for $283.8 million in net proceeds over the same period. STRC is Strategy’s variable-rate perpetual preferred stock. The company has maintained a 12% annualized dividend rate on its $100 stated amount as it seeks to keep the shares trading near that level. Its board sets the rate, which can change, and dividend payments are not guaranteed. Schiff also claimed Strategy was running out of cash. As of Nov. 8, the company held a $4.77 billion reserve intended for preferred dividends and debt interest, plus $146.2 million in cash for broader purposes. The reserve is not designated for STRC repurchases, and the reported balances do not establish how long buybacks can continue. Strategy had $560.3 million remaining under its preferred stock repurchase authorization as of Nov. 8. That figure is a limit on what the company may spend, not a cash balance. The week’s purchases were paid for with MSTR sale proceeds. The latest purchases extend a program under which Strategy had spent about $2.04 billion buying back STRC through Oct. 25. In its third-quarter results, Strategy CEO Phong Le described the effort as a commitment to “returning STRC to health.” The Oct. 25 figure is an earlier total and does not include the latest week of purchases. Strategy has said it wants sustained demand from other investors and may adjust its repurchase pace as STRC approaches $100. Its policy also says the company does not currently intend to issue new STRC shares below that level. ## Links in this article - [the Nov. 2–8 STRC repurchases](https://www.tokenpost.com/news/business/53014)