Strategy Announces $500 Million STRF Preferred Stock Offering To Boost Bitcoin Investments
Known for its heavy investment in Bitcoin (CRYPTO: BTC), Strategy (NASDAQ:MSTR) on Tuesday revealed plans to raise $500 million by offering 5 million shares of a new type of stock called Series A Perpetual Strife Preferred Stock, or STRF, to the public.
What HappenedL The company stated that the money raised will be used for everyday business needs and to buy more Bitcoin, continuing its strategy of building a large Bitcoin reserve.
Strategy on Monday added 130 more Bitcoin to its reserves, bringing its total BTC holdings to 499,226.
This move comes as Strategy, previously known as MicroStrategy, aims to strengthen its position as the world’s largest corporate holder of Bitcoin, a digital currency that has seen significant price swings in recent years.
The STRF stock offers investors a steady 10% annual dividend, meaning they’ll receive regular payments four times a year—on March …
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