Strategy has announced the pricing of its latest round of perpetual preferred stock, which the company does before announcing more Bitcoin (BTC) acquisitions.
According to Strategy, the latest round of preferred stock will be sold at $85 per share, with a 10% coupon, and will bring the company approximately $711 million in revenue.
Market analyst Jesse Myers said that the annual 11.8% dividend distributed to investors from the latest offering suggests that Strategy can now siphon investors from the bond market, which only offers 4.2% interest.
Strategy’s most recent BTC purchase occurred on March 17, when the company acquired 130 BTC, valued at roughly $10.7 million, bringing its total holdings to 499,226 BTC, valued at $41.8 billion.
The March 17 acquisition was the company’s smallest purchase on record and followed a three-week break in