Disclaimer: The analyst who wrote this article owns Strategic Stake (MSTR).
Strategy (MSTR), the largest corporate holder of Bitcoin
has expanded its holdings through a new 10,100 BTC purchase, mainly funded by the latest earnings Preferred stocks, Strd.
The acquisition raises the strategy’s total Bitcoin holdings to 592,100 BTC, and is currently worth approximately $63.3 billion, based on the current $107,000 per Bitcoin. The average purchase price of the company’s total BTC position is now $70,666.
To fund the purchase, Strategy recently completed its 10% Series A Permanent Preferred Stock (Strd) offering. The product targets long-term investors seeking high-yield, fixed-income opportunities, consists of 11.76 million shares and generates approximately $979.7 million in net income after expenses and expenses.
BTC’s acquisition is funded through a combination of earnings issued by Strd and a combination of on-market (ATM) stock sales programs, including its other preferred stock categories, sales of Strk and Strf. Between June 9 and June 15, the strategy raised $TKTK from these stock products.
MSTR stock is 1.60% at pre-sale, while Bitcoin holds close to $107,000.
