Strategy added 520 BTC and $300 million in cash last week, raising its USD reserve to $1.4 billion as its STRC shares stay under pressure.
Bitcoin News
Bitcoin Buy Funded by Stock Sale Proceeds
The cash buildup is meant to support dividend payments on Strategy’s preferred stock, STRC. The security is designed to trade close to its $100 par value, but investors have grown increasingly uneasy about whether the company can keep funding those dividends.
Stress on STRC Preferred Shares Continues
That unease came to a head Thursday, when panic selling pushed STRC to a record low below $83 before it recovered some ground into the close. STRC ended Thursday’s session down 0.46% at $88.59. By Monday’s premarket session, it had climbed to $90.59, still well below its $100 par value.
Strategy’s common stock was up 3.5% Monday morning as Bitcoin climbed back to nearly $65,000. MSTR had fallen 3.46% to close at $112.53 on Thursday, ahead of Friday’s market holiday.
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