Strategy to Shift to Preferred Stock to Fund Bitcoin Purchases
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09:30
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1 min read
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Source: Cointelegraph.com News
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Bitcoin treasury company Strategy will shift from selling common stock to raising capital through preferred stock to acquire Bitcoin, CEO Phong Le said. "We will start to transition from equity capital to preferred capital," Le told Bloomberg’s "The Close." Stretch (STRC) is Strategy’s perpetual preferred stock, launched in July, and is aimed at buyers looking for stability by offering an annual dividend of over 11%.
STRC is the company’s fourth perpetual preferred offering, launched to finance its Bitcoin (BTC) purchases. It’s an alternative to issuing new shares that dilute its stock price.
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