Apyx expands Strategy’s STRC stake to $29M, targets top-holder position
Apyx increased its STRC holdings to $29 million, aiming to become the largest shareholder of the preferred stock issued by Strategy.Summary
Apyx, a dividend-backed stablecoin protocol, has significantly increased its investment in Strategy’s preferred stock instrument, STRC, acquiring an additional 33,888 shares to bring its total holdings to 288,888 shares, valued at approximately $29 million. This accumulation is part of Apyx's goal to become the largest STRC holder, intensifying its purchasing pace throughout March. Strategy, which functions as a Bitcoin treasury vehicle, issued STRC to fund ongoing Bitcoin acquisitions, offering investors an 11.5% annualized dividend. For Apyx, these STRC holdings serve as collateral backing its stablecoin, apxUSD. The timing aligns with Strategy increasingly relying on STRC funding (accounting for 75% of its most recent acquisition) to buy Bitcoin. While STRC offers yield-bearing exposure to Bitcoin, the investment carries risks, including potential financial strain on Strategy if Bitcoin prices drop significantly, and concerns over dilution from continuous security issuance.
(Source：Crypto Briefing)