Strategy Posts Record STRC Sales After ATM Rule Change
Strategy sold a record amount of STRC shares after easing sales restrictions, estimating a purchase of 1,420 BTC in a single day.Summary
Michael Saylor’s Strategy achieved record sales of its Stretch (STRC) perpetual preferred equity following a modification to its sales rules on Monday. Approximately 2.4 million STRC shares were sold through its at-the-market (ATM) program, resulting in an estimated purchase of 1,420 Bitcoin (BTC). This surpasses the previous record of 1,069 BTC. The rule change allows a second agent to sell securities before and after US market hours, increasing efficiency. STRC is a key component of Strategy’s Bitcoin acquisition strategy, alongside other securities like Stride, Strife, Strike, and common stock. Market analysts, such as Ragnar, predict this change will lead to increased capital raising and Bitcoin purchases. Strategy recently reported a $378 million STRC sale and a $1.3 billion BTC purchase, with common stock generating the largest proceeds at nearly $900 million, despite Bitcoin trading below Strategy’s average cost basis of $75,862.
(Source：Cointelegraph)