Michael Saylor Highlights Focus on Preferred Stock After Bitcoin Sale
- Strategy (MSTR) sold 32 bitcoin for approximately $2.5 million.
- The sale’s proceeds are intended to fund distributions on perpetual preferred stock (STRC).
- Michael Saylor stated the goal is to make STRC “the best credit instrument in the world.”
- The average selling price of bitcoin was $77,135, while current trading is around $70,000.
- This marks the company’s first bitcoin sale since December when it sold at roughly $18,000.
Saylor’s comments and the recent sale indicate a strategic shift towards prioritizing preferred stock over direct bitcoin accumulation, as evidenced by their focus on increasing shareholder value through bitcoin per share metrics.
With the recent sale of bitcoin at an average price of $77,135, Strategy aims to enhance its preferred stock offerings while managing its cryptocurrency holdings effectively. (Source)
