Strategy Ups Raise for Bitcoin Purchases by $2 Billion
Main Idea
Strategy (STRC) is increasing its preferred stock offering to nearly $2.5 billion, offering a variable monthly dividend starting at 9%, and expanding its Bitcoin holdings.
Key Points
1. STRC upsized its preferred stock offering from $500 million to $2.521 billion, with shares priced at $90 (a 10% discount from the original $100).
2. The preferred stock will offer a variable monthly dividend rate starting at 9%.
3. Strategy holds 607,770 BTC, valued at over $70 billion, and recently purchased an additional $740 million in Bitcoin.
4. Shares of Strategy (MSTR) fell 2% as Bitcoin dropped to $115,655, with MSTR shares trading at $406.49 as of Friday.
5. The company's Bitcoin holdings now represent nearly 2.9% of the total eventual 21 million Bitcoin supply.
Description
The Bitcoin behemoth already holds more than 607,000 Bitcoin.
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