Strategy’s STRC Raises $206M to Expand Bitcoin Holdings
- STRC generated net proceeds of $206.61 million from the issuance of 2.12 million shares.
- The company announced a new $43 million Bitcoin acquisition, potentially allowing for the purchase of approximately 2,536 BTC at an average price of $81,471 each.
- STRC’s daily trading volume surged to $444.91 million, with shares trading at their par value of $100.
- The stock currently yields an annual rate of 11.5%, with the next ex-dividend date set for May 15.
- Michael Saylor designed STRC to maintain a unit price around $100 while adjusting dividend payouts based on market performance.
The capital raise and subsequent Bitcoin acquisition reflect Strategy’s ongoing commitment to its treasury model focused on Bitcoin. This move comes amid criticism from economist Peter Schiff regarding the suitability of STRC for low-risk investors.
With a recent trading volume exceeding $444 million and a yield of over eleven percent, STRC is actively positioning itself in the cryptocurrency market.(Source)
