The STRC preferred shares in Saylor’s hands climbed back above their $100 par value during Wednesday’s trading, for the first time since May.
The par-value threshold matters. Once the price is above it, the company can issue new shares on the open market and, as it has done before, use the proceeds to buy $BTC . Bitcoin Treasuries estimates that funds raised through STRC yesterday were enough to buy more than 120 bitcoins. This issuance channel had been closed for more than 170 days, and has now reopened.
The terms are also worth a look. This preferred stock pays an annual dividend of 12%: $12 per share per year on a par value of $100. Shareholders voted on October 28 to switch to daily accrual; the change takes effect on November 1, with payments starting November 2. In June, it fell as low as $71.25. The company spent several months buying shares back to support the price, finally pushing it back near par.
$BTC Current price: 80,339, up 2.41% in 24 hours. For a company that finances its bitcoin purchases by issuing preferred shares, the reopening of its financing window matters more than a few percentage points of movement in the coin price that day.
#比特币 #PreferredStock
The par-value threshold matters. Once the price is above it, the company can issue new shares on the open market and, as it has done before, use the proceeds to buy $BTC . Bitcoin Treasuries estimates that funds raised through STRC yesterday were enough to buy more than 120 bitcoins. This issuance channel had been closed for more than 170 days, and has now reopened.
The terms are also worth a look. This preferred stock pays an annual dividend of 12%: $12 per share per year on a par value of $100. Shareholders voted on October 28 to switch to daily accrual; the change takes effect on November 1, with payments starting November 2. In June, it fell as low as $71.25. The company spent several months buying shares back to support the price, finally pushing it back near par.
$BTC Current price: 80,339, up 2.41% in 24 hours. For a company that finances its bitcoin purchases by issuing preferred shares, the reopening of its financing window matters more than a few percentage points of movement in the coin price that day.
#比特币 #PreferredStock
