**[Michael Saylor: Strategy May Initiate Stock Buybacks When Share Price Drops to a "Sufficiently Cheap" Level]** BlockBeats News, August 18 – Strategy founder Michael Saylor stated that repurchasing the company's own stock is not currently a priority. However, if the price of MSTR shares drops to a sufficiently cheap level, the company may consider stock buybacks. During a Q&A session on Monday, Michael Saylor said: "If MSTR trades at a very, very deep discount relative to its net asset value (NAV), then you might see us take such action." Michael Saylor mentioned that the company plans to maintain a significant cash reserve to ensure greater flexibility, which could be used for purchasing Bitcoin, repurchasing MSTR shares or preferred stock, or repaying debt. This flexibility also applies to Bitcoin. "We need to be able to both sell Bitcoin and buy Bitcoin." The company's strategy prioritizes the development of STRC, cash reserves, and credit business over stock buybacks. He also explained how Bitcoin's price will influence Strategy's future purchasing plans. When BTC's price is significantly above its 200-week moving average, Strategy may retain more of the cash it raises; when Bitcoin's price is near or below this long-term average, it may be considered a buying opportunity. For MSTR investors, Michael Saylor suggested viewing this investment with at least a four-year horizon, ideally holding it for 7 to 10 years. He concluded by saying: "I can feel your pain. But I believe we must be prepared to endure challenging years." [Original Link]