Strategy announces 10% preferred stock offering to buy more Bitcoin
Strategy is exploring more ways to raise debt and equity to continue stacking Bitcoin as part of its corporate BTC treasury plan.
Strategy has announced the pricing of its latest round of perpetual preferred stock, which the company does before announcing more Bitcoin (BTC) acquisitions.
According to Strategy, the latest round of preferred stock will be sold at $85 per share, with a 10% coupon, and will bring the company approximately $711 million in revenue.
Market analyst Jesse Myers said that the annual 11.8% dividend distributed to investors from the latest offering suggests that Strategy can now siphon investors from the bond market, which only offers 4.2% interest.
