Finance, Strategy, MicroStrategy, Bitcoin, Bitcoin Treasury Reserve Asset, Breaking News, top news, News The firm days ago sold nearly $2.5 billion of its new preferred series, dubbed STRC or “stretch,” and quickly deployed the funds into BTC.
Strategy (MSTR), the largest corporate owner of bitcoin (BTC), said on Tuesday it has acquired roughly $2.4 billion worth of BTC using the funds from its new preferred stock (STRC) issuance.
The firm sold nearly $2.5 billion worth of STRC, also dubbed “stretch,” to investors, significantly more than the originally planned $500 million.
STRC, which aims to deliver a regular dividend to investors initially set at a 9% rate, will start trading on Wednesday on Nasdaq.
With the proceeds, the company purchased 21,021 BTC at an average price of $117,256, according to a press release. That brings Strategy’s bitcoin holdings to 628,791 BTC, worth nearly $74 billion at current prices.
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