Strategy's 2.5M Stride Shares for Bitcoin Funding
Strategy, the major corporate Bitcoin holder, announced its intention to sell 2.5 million 'Stride' perpetual preferred shares to further invest in Bitcoin acquisitions. This initiative targets both institutional and selected non-institutional investors. The shares are part of a broader plan, which includes previous releases labeled 'Strike' and 'Strife', designed to raise substantial capital for Bitcoin purchases. 'Stride' shares offer a 10% annual dividend, while being non-convertible to common shares, providing continuous returns without a maturity date. Strategy's Bitcoin reserves now total 580,955 BTC, inspiring other firms to consider crypto for treasury purposes. The firm retains the right to redeem these shares under specific conditions.
FAQ
❓ What are 'Stride' shares?
'Stride' shares are perpetual preferred shares offering a 10% dividend, issued to support Bitcoin investments.
❓ Why is Strategy selling 'Stride' shares?
Strategy is selling 'Stride' shares to raise funds for further Bitcoin acquisitions, following the company's strategy to expand its Bitcoin holdings.
❓ Can 'Stride' shares be converted into common shares?
No, 'Stride' shares are not convertible into common Strategy shares.