Michael Saylor's Strategy Launches New Stock Offering to Boost Bitcoin Holdings
Michael Saylor's Strategy has unveiled a new stock offering, STRF, to continue its aggressive Bitcoin accumulation strategy. The company is issuing 5 million shares of its Series A Perpetual Strife Preferred Stock, aiming to raise funds for Bitcoin purchases and operational expenses. This move follows Strategy's recent acquisition of 130 BTC, valued at $10.7 million, bringing its total holdings to 499,226 BTC, worth approximately $33.1 billion.
The STRF offering provides a 10% annual dividend, paid quarterly, starting June 30, 2023. Strategy has been a major Bitcoin investor since August 2020, using stock offerings to finance its purchases. The company plans to invest $21 billion more in Bitcoin, signaling its long-term commitment.
However, not everyone is supportive. Jason Calacanis criticizes Saylor's strategy, arguing that large-scale Bitcoin accumulation by a few entities could centralize the cryptocurrency, potentially harming its decentralized nature and brand. This criticism highlights the debate over institutional involvement in Bitcoin.
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