"Strategy disclosed the purchase of 13,927 BTC for roughly $1 billion, funded entirely by selling 10 million shares of STRC, avoiding dilution of common shares."
"The preferred stock trades at around $100 per share and pays an 11.5% annual dividend, allowing Strategy to raise funds without impacting existing shareholders."
"On April 13, STRC hit $1.156 billion in daily trading volume, 46.5% above its previous record, indicating strong demand for the preferred stock."
After Bitcoin's price drop, Saylor purchased $1 billion worth of Bitcoin, bringing his total holdings to 780,897 BTC. The purchase was funded by selling preferred stock, avoiding dilution of common shares. This strategy allows for continued Bitcoin acquisitions without impacting existing shareholders. The preferred stock, which pays an 11.5% annual dividend, has become a primary funding source for Bitcoin purchases. STRC's trading volume surged, indicating strong investor interest, and Saylor noted minimal price volatility during significant trading activity.
Read at 24/7 Wall St.
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