Hold onto your wallets, folks! Strategy, the company formerly known as Microstrategy, is about to make a move that’ll have Bitcoin addicts reaching for their wallets and calculators. Their latest stunt? A bold IPO with the rather catchy name “STRD Stock”, and, surprise surprise, it’s all about acquiring more Bitcoin. Because why wouldn’t you want to own more of that thing you can’t spend anywhere? 😜
Strategy Doubles Down on Bitcoin—Because Who Needs Less of It?
Software intelligence firm Microstrategy (now “Strategy” because, clearly, it’s time for a rebrand), has announced that they’re planning to sell a shiny 2.5 million shares of their 10.00% Series A Perpetual Stride Preferred Stock (yes, the name is as long as it sounds) in a move that’ll hopefully keep the Bitcoin frenzy going for, well, forever. Filed under the ever-so-trustworthy U.S. Securities Act of 1933, the stock is designed to fuel their larger-than-life Bitcoin strategy. Here’s the kicker:
“We’re using the money from this offering to buy more Bitcoin, surprise!”
But wait, there’s more! The STRD Stock is being sold with a 10% annual dividend rate (yawn), but don’t get your hopes up just yet. Dividends will only be paid if the company’s board can be bothered to declare them. And just to keep things exciting, no, unpaid dividends won’t accumulate, so feel free to start crying now if that’s your thing. 😢 The company promises that if you do get a payout, it’ll happen quarterly starting September 30, 2025. Hope you can wait that long!
And if you’re wondering about the redemption terms, Strategy’s got that covered too. If less than 25% of the original shares remain, or if the tax gods intervene (you know, the usual), the stock could be redeemed. In the event of a “fundamental change” (no idea what that is, but it sounds important), you might even be able to force them to buy back your shares at the stated $100 value, plus any unpaid dividends. Because, as we all know, people who don’t pay their dividends are probably just playing hard to get. 😏
Meanwhile, in the world of Bitcoin acquisitions, Strategy continues to demonstrate how much they love Bitcoin by raising millions of dollars through stock sales. They sold $36.2 million worth of 353,511 STRK shares and $38.4 million worth of 374,968 STRF shares between May 26 and June 1. What did they do with that mountain of cash? You guessed it: bought more Bitcoin—705 BTC at an average price of $106,495 each. That brings their total Bitcoin holdings to a truly insane 580,955 BTC, worth around $40.68 billion at an average price of $70,023 per coin. As one does. 😎
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2025-06-03 02:59