Strategy Reveals Another Stock Offering to Boost $71 Billion Bitcoin Stash
Main Idea
Strategy, formerly MicroStrategy, introduces a new financial product called Stretch (STRC) to raise funds for Bitcoin acquisitions, differing from its previous offerings.
Key Points
1. Strategy launches Stretch (STRC), a new stock offering with an initial dividend rate of 9%, planning to sell 5 million shares at $100 each.
2. The company aims to use the proceeds to buy Bitcoin, continuing its aggressive BTC accumulation strategy, now holding 607,770 BTC worth over $71 billion.
3. Strategy's stock (MSTR) has surged over 2,860% since 2020, driven by its Bitcoin-focused business model.
4. The firm previously announced plans to raise $42 billion for Bitcoin purchases but increased the target to $84 billion in May.
5. Executive Chairman Michael Saylor advocates for corporate treasuries to invest in Bitcoin and other cryptocurrencies like Ethereum, Solana, XRP, and Dogecoin.
Description
Bitcoin treasury firm Strategy (formerly MicroStrategy) is launching a new financial product as a way to raise money for BTC buys.
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