Is Another Piece of Michael Saylor’s BTC Strategy Starting to Fall Into Place?

Strategy (MSTR) Executive Chairman Michael Saylor's plan to acquire more Bitcoin appears to be advancing as its perpetual preferred share, STRC, reached a record high of $100.10, trading at par value. This milestone allows Strategy to utilize its at-the-market (ATM) offering against STRC to purchase more Bitcoin, a capability that was previously on hold. Strategy had previously increased STRC's dividend rate from 9% to help push the price toward the $100 par value. The company has $4.2 billion in available share issuance capacity and has already used ATM sales on other preferred products and common stock to fund Bitcoin purchases. For Saylor to continue accumulating Bitcoin in a non-dilutive manner, the successful issuance of perpetual preferred stock is crucial, especially as MSTR common shares have declined.

(Source：CoinDesk)