▲ 8 r/STRC
STRC Metrics - Week ending Aug 15
Unlike the previous two weeks, Strategy did not sell BTC to support STRC.
| Metric | Through Aug. 9 | Through Aug. 16 |
|---|---|---|
| Gross STRC shares issued | 104,894,705 | 104,894,705 |
| STRC shares repurchased | 2,353,093 | 3,741,813 |
| Net STRC shares issued | 102,541,612 | 101,152,892 |
| Gross STRC capital raised | $10.1512B | $10.1512B |
| STRC repurchase spending | $214.8M | $347.0M |
| Net STRC capital | $9.9364B | $9.8042B |
| Gross STRC-funded BTC acquired | ~122,540.3 BTC | ~122,540.3 BTC |
| BTC sold during repurchase weeks | 3,328 BTC | 3,328 BTC |
| Net remaining STRC-funded BTC | ~119,212.3 BTC | ~119,212.3 BTC |
| Effective cost / remaining BTC | ~$83,350 | ~$82,242 |
One concern - last week's rebuy activity was UP as a percentage of trading volume. Previous week was 15%. Last week was 24%. I'd call that good bear meat. Price essentially unchanged despite large buyback.
More STRC analysis at https://x.com/TheSkunksMisery
u/TheSkunksMisery — 3 days ago
▲ 0 r/TheRepTime
[valuation] Please confirm/disprove Gemini's Valuation of my Noob
Purchased a noob batman 5 years ago (2021), not wearing it much anymore. Asked Gemini if it had any value, and I was shocked that it thinks there's still a lot of value left in it.
Would anyone with any experience care to chime in? If so, I'll be posting it for sale in the proper locations, not here. I'd rather have a newer piece if I can get most of my money back out of it. If not, it'll stay in the box and get trotted out now and then.
Gemini Output:
A 2021 Noob Factory Rolex GMT-Master II "Batman" occupies a unique position on the pre-owned replica market. Because Noob Factory was raided and shut down by authorities in mid-2021, a 2021 piece represents one of the final production runs from what was once the most famous factory in the replica industry.
Secondary Market Valuation
| Factor | Typical Market Price | Key Context |
|---|---|---|
| Stock / Stock Condition | $350 – $480 USD | Varies based on bezel alignment, bracelet wear, and movement health. |
| Serviced / Waterproofed | $450 – $550+ USD | If the movement has been freshly lubricated/regulated or modified. |
| "Franken" Upgraded | $700 – $1,200+ USD | If fitted with genuine Rolex parts (e.g., gen crystal, gen crown, or genuine bezel insert). |
u/TheSkunksMisery — 4 days ago
▲ 0 r/TheRepTime
Wearing Reps across the border (specifically into Canada)
Getting around the safety filters of gemini is a pain. It's alternately telling me that there is a personal exemption for bringing a single rep watch across the border, and telling me there is a risk of forfeiture if i tell CBSA it's a rep.
Which is it?
u/TheSkunksMisery — 6 days ago
▲ 10 r/STRC
Weekly STRC Metrics
Updated totals through Aug. 9, 2026
| Metric | Total |
|---|---|
| Gross STRC shares issued | 104,894,705 |
| STRC shares repurchased | 2,353,093 |
| Net STRC shares issued | 102,541,612 |
| Gross STRC capital matched to BTC | ~$10.1512B |
| Total STRC repurchase spending | ~$214.8M |
| Net STRC capital | ~$9.9364B |
| Gross STRC-funded BTC acquired | ~122,540.3 BTC |
| BTC sold to fund STRC repurchases | 3,328 BTC |
| Net STRC-funded BTC remaining | ~119,212.3 BTC |
| Gross pre-buyback BTC cost | ~$82,840/BTC |
| Prior effective cost after Aug. 2 | ~$83,084/BTC |
| Updated effective cost after Aug. 9 | ~$83,350/BTC |
So this week's buyback pushes our effective basis another ~$266 higher, from ~$83.08k to ~$83.35k/BTC.
That's exactly what we'd expect: they're selling BTC around $64.3k, substantially below the existing ~$83k economic basis, and using the proceeds to retire STRC. Each such transaction removes proportionally more BTC than capital from our constructed pool, so the cost basis of the remaining STRC-financed BTC rises.
Another thing of note - this week's buyback was roughly the same in terms of % of trading volume - 14.6%. Last week it was around 13%.
u/TheSkunksMisery — 9 days ago
▲ 12 r/STRC
Running the STRC Numbers - Sanity Check Please
Im working with ChatGPT to produce a weekly output of the status of STRC purchases only. Please take a look at the following tables, and let me know if there are any structural errors here - I've already caught a few but it's 6am here and I haven't had any coffee yet.
If there's interest, I'll publish the output every Monday. If not, I just burned a few tokens. Sorry, earth.
| Reporting period | STRC shares issued / (repurchased) | STRC capital raised / (spent) | STRC-funded BTC bought / (sold) | Avg. BTC price |
|---|---|---|---|---|
| Jul 29, 2025 IPO | +28,011,111 | +$2,473.8M | +21,021 | $117,256 |
| Nov 3–9 | +262,311 | +$26.2M | ~+255.5 | $102,557 |
| Nov 10–16 | +1,313,641 | +$131.2M | ~+1,284.1 | $102,171 |
| Jan 5–11, 2026 | +1,192,262 | +$119.1M | ~+1,301.4 | $91,519 |
| Jan 12–19 | +2,945,371 | +$294.3M | ~+3,088.7 | $95,284 |
| Jan 20–25 | +70,201 | +$7.0M | ~+77.7 | $90,061 |
| Feb 9–16 | +785,354 | +$78.4M | ~+1,157.9 | $67,710 |
| Feb 23–Mar 1 | +71,590 | +$7.1M | ~+104.9 | $67,700 |
| Mar 2–8 | +3,776,205 | +$377.1M | ~+5,315.3 | $70,946 |
| Mar 9–15 | +11,818,467 | +$1,180.4M | ~+16,816.3 | $70,194 |
| Mar 30–31 | +2,275,972 | +$227.3M | 0 — carried forward | — |
| Apr 1–5 | +1,027,255 | +$102.6M | +4,871* | $67,718 |
| Apr 6–12 | +10,028,363 | +$1,001.3M | ~+13,925.9 | $71,902 |
| Apr 13–19 | +21,795,389 | +$2,176.3M | ~+29,253.3 | $74,395 |
| May 4–10 | +1,412 | +$0.1M | ~+1.2 | $80,340 |
| May 11–17 | +19,519,801 | +$1,949.0M | ~+24,066.2 | $80,985 |
| Jul 20–26 | (288,930) @ ~$86.53 | ($25.0M) | 0 | — |
| Jul 27–Aug 2 | (912,143) @ ~$89.02 | ($81.2M) | (1,638) | $63,957 sale |
Totals through Aug. 2, 2026
| Metric | Total |
|---|---|
| Gross STRC shares issued | 104,894,705 |
| STRC shares repurchased | 1,201,073 |
| Net STRC shares issued | 103,693,632 |
| Gross STRC capital matched to BTC | ~$10.1512B |
| Less STRC repurchase spending | $106.2M |
| Net STRC capital | ~$10.0450B |
| Gross STRC-funded BTC acquired | ~122,540.3 BTC |
| BTC sold during STRC buyback weeks | 1,638 BTC |
| Net STRC-funded BTC | ~120,902.3 BTC |
| Gross pre-buyback BTC cost | ~$82,840/BTC |
| Effective cost after buybacks | ~$83,084/BTC |
u/TheSkunksMisery — 12 days ago
▲ 13 r/STRC
Confirmed: $1/mo maintained.
Stretch Dividend Rate maintained at 12.00% for August 2026
u/TheSkunksMisery — 19 days ago
▲ 36 r/STRC
Saylor: We will return STRC to par.
"We have the means to return STRC to par. Right now, you can see the market cap is $9.2 billion and the notional is $10.5 billion. There is about a $1.2 billion dislocation (54:15-54:25).
We have allocated a billion dollars to buy back STRC, about 2% of our BTC reserve. We still have $975 million of that program available to us. So, the first place we look is to use that buyback program to cure the dislocation (54:27-54:50).
But I would remind everybody that the company has total reserves of $58.5 billion. I have shown the bar on the right. What you can see is that if the $975 million does not cure the problem, we have ample additional capital in order to cure the dislocation (54:52-55:13).
We are currently in a discovery process to figure out how much capital will be required on our part in order to return STRC to par (55:14-55:30).
We are certain that we will return STRC to par. That is the goal. There is no question about whether success is returning it to par. It is returning it to par. The big question mark is how extensive will the buyback be, how rapid will the buyback take place, and then what will be the exact open market execution strategy of the buyback. We are calibrating day by day, and sometimes multiple times a day, as we learn from the market. We have a lot of market signal every minute of the day, every day of the week. We also are getting signal back each week as we put out a new announcement about our status (55:31-56:22).
We think this is one of those things where we want to do it not too slow but not too fast. We want to allow other investors—our credit investors, our equity investors, and the Bitcoin community—to participate with us, but especially we want our other credit investors to join us on this journey (56:24-56:49).
u/TheSkunksMisery — 20 days ago
▲ 17 r/STRC
Saylor: A Few Words on Digital Credit
Transcript from tonight's earnings call: (ums, uhs removed)
"So, a few words on digital credit.
Stretch, STRC, is our flagship digital credit product and we're laser focused on Stretch. Our goal with stretch is we want to increase the liquidity.
We want to decrease the volatility and we want to build an ecosystem of market participants. We want people that are willing to trade it. We want people that are willing to short it. We want people that are willing to go long and hold it forever. I'm not terribly bothered by the fact that someone might buy it at $88 and sell it at $95. We would love for that to happen. We'd love for another group of people that buy it at 95 and hold it till it goes to 98. And other investors that will buy it whenever it falls below 99 and write it back to 100. And if they don't want to hold it at 100, that's okay. They'll be creating liquidity for other buyers at 100. And that stabilizes STRC. So we welcome derivatives traders, long traders, short traders, anyone that has any particular view, it's fine.
If someone wanted to sell a billion dollars of STRC short, they would be paying the 12% dividend and so they would be paying $120 million a year in order to create a billion dollars of liquidity to the benefit of our digital credit. So, again, we don't really worry about it. We would like to return to par with the broadest most diverse ecosystem of market participants that we can possibly develop. And so that means sometimes instead of doing things immediately we could return STRC to par very quickly using our own capital but that would exclude many of these other ecosystem participants and we and and we would be getting ahead of our equity investors, our credit investors, Bitcoin investors and the like. So we will move progressively and deliberately with the thought that we want the deepest richest derivatives market, the deepest richest credit markets, the deepest richest equity markets uh the most clarity, the most liquidity uh and the broadest reach uh with regard to STRC we can possibly create and that will be best for everybody involved.
u/TheSkunksMisery — 20 days ago
▲ 24 r/STRC
How STRC gets back to par.... Per Phong.
I'm currently going through the Q2 earnings call. You should too.
u/TheSkunksMisery — 20 days ago