<p class="is-style-lead">Strategy President and CEO Phong Le has invested $1 million in the company’s STRC preferred stock as shares continue trading below their intended $100 par value.</p><div id="cn-block-summary-block_fa99dff89e946bfff28b7ddb9fbea29a" class="cn-block-summary"><div class="cn-block-summary__nav tabs"><span class="tabs__item is-selected">Summary</span></div><div class="cn-block-summary__content"><ul class="wp-block-list"><li>Strategy CEO Phong Le bought $1 million of STRC as the preferred stock remains below its $100 par value.</li><li>Strategy increased its U.S. dollar reserve to $1.4 billion while raising $335.5 million through MSTR share sales.</li><li>Critics, including Peter Schiff, Jeff Dorman, and Ali Martinez, continue questioning the sustainability of Strategy’s financing model.</li></ul></div></div><p>In a June 22 X post, Le said he purchased $1 million worth of STRC and plans to hold the position until the stock returns to par value, adding that he may continue holding it beyond that point.</p><figure class="wp-block-embed is-type-rich is-provider-x wp-block-embed-x"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><p>I bought $1 million of <a href="https://x.com/search?q=%24STRC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$STRC</a> today. Will hold it until it reaches par, likely longer.</p>— Phong Le (@phongle) <a href="https://x.com/phongle/status/2069080463126470781?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 22, 2026</a></blockquote></div></figure><p>The purchase arrived as STRC remains under pressure following a sharp decline that recently pushed the preferred stock below $83. After Le disclosed the investment, STRC recovered from session lows and rose 1.46% to $89.88 before settling at $89.20 at press time.</p><figure class="wp-block-image size-full"><img width="1018" height="632" src="https://media.crypto.news/2026/06/image-267.webp" alt="Strategy (STRC) stock price chart showing shares trading at $89.20, up 0.69% intraday after recovering from session lows." class="wp-image-14468842"><figcaption class="wp-element-caption"> Source: <a href="https://finance.yahoo.com/quote/STRC/" rel="noopener noreferrer nofollow">Yahoo Finance</a></figcaption></figure><p>His investment comes at a sensitive time for Strategy, as STRC plays a central role in the company’s Bitcoin acquisition model. When the preferred stock trades above its $100 par value, Strategy can issue additional shares through its at-the-market program and direct the proceeds toward Bitcoin purchases. With the stock trading below par, that funding channel has become less effective.</p><p>You might also like: <a href="https://crypto.news/bank-of-america-sparks-bitcoin-jitters-with-three-hike-forecast/" rel="noopener noreferrer nofollow"> Bank of America sparks Bitcoin jitters with three-hike forecast </a></p><h2 class="wp-block-heading" id="strategy-points-to-reserves-as-concerns-grow">Strategy points to reserves as concerns grow</h2><p>Recent debate around STRC intensified after investors questioned whether Strategy’s financing structure could continue operating smoothly if pressure on the preferred stock persists.</p><p>Earlier on June 20, Strategy Executive Chairman Michael Saylor <a href="https://crypto.news/michael-saylor-fires-back-as-strc-crash-sparks-fraud-claims/" rel="noopener noreferrer nofollow">defended</a> the company’s Bitcoin-backed capital model after criticism emerged following STRC’s decline. According to Saylor, Strategy’s Bitcoin and cash holdings exceed its outstanding debt by roughly $48 billion.</p><p>Saylor also stated that the company has raised more than $60 billion in capital since 2022 and used those funds to acquire Bitcoin.</p><p>More recently, Strategy disclosed steps intended to strengthen confidence in its balance sheet. In a regulatory filing released Monday, the company reported that its U.S. dollar reserve had increased to $1.4 billion, roughly $300 million higher than previous levels. Strategy said the reserve is intended to support the credit quality of its Digital Credit securities while helping meet future dividend and debt obligations.</p><p>The same filing showed that Strategy sold 2.71 million MSTR shares during the previous week, generating nearly $335.5 million in proceeds.</p><h2 class="wp-block-heading" id="critics-continue-questioning-the-capital-structure">Critics continue questioning the capital structure</h2><p>While company executives have defended the model, several market participants have raised concerns about STRC and the sustainability of the broader financing strategy.</p><p>Long-time Bitcoin critic Peter Schiff <a href="https://crypto.news/peter-schiff-accuses-michael-saylor-of-misleading-strc-buyers/" rel="noopener noreferrer nofollow">argued</a> that investors could potentially pursue legal action against Strategy and Saylor. Schiff also claimed that Saylor may have violated SEC marketing rules through the way the preferred stock offering was promoted.</p><p>Separate concerns have focused on Strategy’s ability to maintain dividend payments tied to its preferred securities. Market maker QCP previously <a href="https://crypto.news/qcp-warns-strategy-may-sell-more-bitcoin-to-fund-dividends/" rel="noopener noreferrer nofollow">estimated</a> that the company’s available liquidity could cover preferred dividend obligations for approximately seven and a half months.</p><p>Additional criticism came from Arca Chief Investment Officer Jeff Dorman, who <a href="https://crypto.news/arcas-jeff-dorman-sees-only-one-fix-for-strategys-strc-crisis/" rel="noopener noreferrer nofollow">suggested</a> Strategy may eventually need to sell between $3 billion and $4 billion worth of Bitcoin to reduce pressure on its capital structure and support STRC holders. Analyst Ali Martinez also drew <a href="https://crypto.news/ali-martinez-warns-strategys-strc-mirrors-terras-danger-loop/" rel="noopener noreferrer nofollow">comparisons</a> between aspects of STRC’s structure and Terra’s former LUNA ecosystem.</p><p>Meanwhile, Strategy has continued adding to its Bitcoin position. Saylor recently <a href="https://crypto.news/michael-saylors-latest-bitcoin-buy-hides-a-bigger-cash-strategy/" rel="noopener noreferrer nofollow">disclosed</a> the purchase of 520 BTC for approximately $35 million at an average price of $67,068 per coin. Following the acquisition, the company reported total holdings of 847,363 Bitcoin.</p><p>Pressure on STRC also follows Strategy’s only disclosed Bitcoin sale this year. As crypto.news <a href="https://crypto.news/strategy-ceo-says-32-btc-sale-was-a-test-not-a-cash-need/" rel="noopener noreferrer nofollow">reported</a>, the company sold 32 BTC for roughly $2.5 million at the end of May to help fund obligations associated with STRC dividends.</p><p>Read more: <a href="https://crypto.news/spacex-sparks-valuation-fears-as-analysts-refuse-stock-target/" rel="noopener noreferrer nofollow"> SpaceX sparks valuation fears as analysts refuse stock target </a></p>

Strategy CEO backs troubled STRC with $1M bet on recovery

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