MicroStrategy's Executive Chairman Michael Saylor stated that a share buyback is not a priority for the company. This comes after a rough stretch for the company's common shareholders, with MSTR down about 38% this year and 73% year-over-year. According to Saylor, the company could consider buying back its own shares if they become cheap enough, but for now, it is focused on its preferred stock business, especially STRC.
Cash Reserve
MicroStrategy now holds $4.8 billion in U.S. dollars, which CEO Phong Le says is necessary to maintain sufficient cash to cover STRC's dividend payments.
Bitcoin Strategy
Saylor explained that the company's bitcoin purchasing strategy is affected by the cryptocurrency's price, and that it may keep more cash when BTC trades far above its average price over the past 200 weeks.
Investor Guidance
Saylor advised MSTR investors to have at least a four-year time horizon, with seven to 10 years preferable, and said that the company is prepared to have difficult years.