Strategy Aims to Raise Another $500M for Bitcoin Buys With New Preferred Series

Strategy Aims to Raise Another $500M for Bitcoin Buys With New Preferred Series
Source:Coin Desk
00:00 / 00:00

Strategy (MSTR) has launched its for additional bitcoin (BTC) purchases.

The STRC Preferred Stock () will have an initial dividend rate of 9%. The company is looking to sell 5 million shares at $100 each for a total of $500 million.

STRC will join the company's other preferred series of shares — STRK, STRF and STRD — not to mention the common stock at-the-market program, through which MSTR raised $736 million just last week for more bitcoin acquisitions.

Strategy, of course, is gorilla among corporate bitcoin holders 600,000 coins worth about $72 billion.

MSTR is little-changed in after hours trade.