Strategy stock moved higher Monday after the company said it plans to buy back stock and sell bitcoin among many moves aimed at stemming a loss of confidence in the crypto-hoarding company.

Today's announcement at Michael Saylor's firm follows a rough stretch for its stock. It came after both Strategy's common and preferred shares had plummeted in recent days, while bitcoin fell below the psychologically important threshold of $60,000.

Strategy shares moved about 7.5% higher on the day, but are still down more than 40% in June.