Saylor Says Strategy to Expand Bitcoin Purchases by Maximizing STRC Growth
Summary
- Michael Saylor said Strategy will further expand the scale of its Bitcoin purchases by maximizing growth in its preferred stock STRC.
- He said that if STRC rises above its $100 par value, Strategy can sell shares through an at-the-market offering program (ATM) to raise cash and buy Bitcoin.
- Strategy said it has raised STRC's annual dividend rate to 11.5%% from 11%%, with dividends paid in cash each month.
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Michael Saylor, chairman of Strategy, the world's largest corporate holder of Bitcoin, said the company aims to maximize growth in its preferred stock STRC to further expand its Bitcoin purchases.
BlockBeats reported on May 21 that Saylor said larger Bitcoin purchases would increase Strategy's Bitcoin holdings per share. He also said the company wants to reduce volatility and uncertainty as much as possible.
STRC is a perpetual preferred stock that Strategy launched in July last year to help fund Bitcoin purchases. If it trades above its $100 par value, the company can sell shares through an at-the-market, or ATM, program to raise cash and buy more Bitcoin.
Strategy has raised STRC's annual dividend rate to 11.5% from 11% at launch. The dividend is paid in cash every month.
