Strategy Expands STRC Offering-Twice in Two Weeks
The post Strategy Expands STRC Offering-Twice in Two Weeks appeared on BitcoinEthereumNews.com. STRC’s offering was doubled to $4.2B. The funds aim to increase the amount of Bitcoin held at a rapid pace Strategy, a giant Bitcoin treasury company, just rocked up markets. The company announced the second significant addition to its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) offering by doubling the size of the offering in only two weeks. The initial action was when Strategy sold 28 million shares at 90 dollars each as the STRC IPO was launched (2.5 billion dollars). All of that money went towards buying 21,021 Bitcoins at a price of 117,256 per Bitcoin. Source – bitcointreasuries.net The acquisition increased the number of Bitcoins that the company holds to over 628,000 coins. Michael Saylor, who is the co-founder of the company, stated, “This places us far ahead in terms of acquiring Bitcoin in order to show our faith. He is adamant that the increased equity facilitates continued Bitcoin purchase at an unprecedented rate”. STRC Captures Over $4 Billion—Investing in the Next Bitcoin Boom Strategy did not stop at $2.5 billion. Shortly afterwards, the company increased the overall amount of offerings to $4.2 billion in a new program of issuing securities referred to as at-the-market (ATM). This will enable it to sell at market prices in the long term, thus providing flexibility to the Strategy. Why the need for even more capital? Strategy explains that the increase will fund additional large purchases of Bitcoin and use in general corporate expenditure. The stock of the STRC has a variable monthly dividend of 9% per annum but the board policy gives the right to change the rate, to maintain the stability of the price at around 100 dollars. This draws investors pursuing yield and those who are betting on the Bitcoin strategy of Strategy. STRC…
The post Strategy Expands STRC Offering-Twice in Two Weeks appeared on BitcoinEthereumNews.com.
STRC’s offering was doubled to $4.2B. The funds aim to increase the amount of Bitcoin held at a rapid pace Strategy, a giant Bitcoin treasury company, just rocked up markets. The company announced the second significant addition to its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) offering by doubling the size of the offering in only two weeks. The initial action was when Strategy sold 28 million shares at 90 dollars each as the STRC IPO was launched (2.5 billion dollars). All of that money went towards buying 21,021 Bitcoins at a price of 117,256 per Bitcoin. Source – bitcointreasuries.net The acquisition increased the number of Bitcoins that the company holds to over 628,000 coins. Michael Saylor, who is the co-founder of the company, stated, “This places us far ahead in terms of acquiring Bitcoin in order to show our faith. He is adamant that the increased equity facilitates continued Bitcoin purchase at an unprecedented rate”. STRC Captures Over $4 Billion—Investing in the Next Bitcoin Boom Strategy did not stop at $2.5 billion. Shortly afterwards, the company increased the overall amount of offerings to $4.2 billion in a new program of issuing securities referred to as at-the-market (ATM). This will enable it to sell at market prices in the long term, thus providing flexibility to the Strategy. Why the need for even more capital? Strategy explains that the increase will fund additional large purchases of Bitcoin and use in general corporate expenditure. The stock of the STRC has a variable monthly dividend of 9% per annum but the board policy gives the right to change the rate, to maintain the stability of the price at around 100 dollars. This draws investors pursuing yield and those who are betting on the Bitcoin strategy of Strategy. STRC…
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