#TrumpBitcoinEmpire Strategy launches Bitcoin stock pegged at $100 to increase treasury
Strategy aims to launch a stock akin to a synthetic stablecoin, enabling the company to absorb more fiat money to convert into Bitcoin capital.
Strategy, the world’s largest corporate Bitcoin holder, is launching a new kind of stock offering, aiming to raise more funds to invest in the world’s first cryptocurrency.
Michael Saylor’s Strategy announced plans to conduct an initial public offering of 5 million shares of Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).
Strategy will use the net proceeds for “general corporate purposes, including the acquisition of Bitcoin and for working capital,” it announced on Monday.
Unlike previous offerings, the STRC Stock will accumulate cumulative dividends at a variable rate on the stated amount of $100 per share. The initial monthly regular dividend will be 9% annually.
The announcement comes two weeks after Strategy announced a $4.2 billion at-the-market (ATM) offering on July 7, which functions as an equity-raising mechanism designed to enable the firm to sell newly issued shares to buy more Bitcoin
Strategy aims to launch a stock akin to a synthetic stablecoin, enabling the company to absorb more fiat money to convert into Bitcoin capital.
Strategy, the world’s largest corporate Bitcoin holder, is launching a new kind of stock offering, aiming to raise more funds to invest in the world’s first cryptocurrency.
Michael Saylor’s Strategy announced plans to conduct an initial public offering of 5 million shares of Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).
Strategy will use the net proceeds for “general corporate purposes, including the acquisition of Bitcoin and for working capital,” it announced on Monday.
Unlike previous offerings, the STRC Stock will accumulate cumulative dividends at a variable rate on the stated amount of $100 per share. The initial monthly regular dividend will be 9% annually.
The announcement comes two weeks after Strategy announced a $4.2 billion at-the-market (ATM) offering on July 7, which functions as an equity-raising mechanism designed to enable the firm to sell newly issued shares to buy more Bitcoin
