Strategy (MSTR), the bitcoin-focused corporate entity formerly known as MicroStrategy, launched its Perpetual Stretch Preferred Stock (STRC) late last month — an offering Executive Chairman Michael Saylor has described as the company’s “iPhone moment.” The STRC preferred stock has already raised $2.5 billion, and a newly opened $4.2 billion at-the-market (ATM) program could extend its … Read more
Strategy (MSTR) is pulling off some form of financial alchemy: using bitcoin, historically a volatile asset, to create something that looks a lot like stability. That’s the firm’s $2 billion “Stretch” Preferred Stock (STRC) offering offers a variable 9% dividend and is designed to keep the share price hovering near $100. The offering doesn’t give … Read more
Disclaimer: The analyst who wrote this article owns shares in Strategy.Strategy (MSTR), under the leadership of Executive Chairman Michael Saylor, may have just finalized its largest preferred stock issuance to date with an STRC (Stretch) offering joining the STRD, STRF and STRK preferred shares to build out the company's credit yield curve. Among these, STRC … Read more
Michael Saylor has again hinted that Strategy would buy more Bitcoin, though the company formerly known as MicroStrategy and its top brass were hit with an investor lawsuit over its $5.9 billion first-quarter loss on its Bitcoin holdings. Saylor posted a chart showing Strategy’s past Bitcoin (BTC) purchases to X on Sunday with the caption: … Read more