Summary
- Strive invested $50 million in Strategy’s perpetual preferred stock Stretch, which Strategy said amounts to more than one-third of the company’s funds.
- Stretch is a perpetual preferred stock that pays an 11.5% annual dividend in cash each month.
- Strive bought an additional 179 bitcoin, bringing its holdings to 13,311—worth about $930 million, it said.
Forecast Trend Report by Period
Strive, a Nasdaq-listed U.S. company, has invested $50 million in perpetual preferred shares issued by Strategy, the world’s largest corporate holder of Bitcoin (BTC).
Strategy said on the 11th (local time) that Strive purchased $50 million worth of Stretch. Strategy added that “($50 million) represents more than one-third of Strive’s corporate funds.”
Stretch is a perpetual preferred stock that Strategy has been issuing since the second half of last year. It pays an 11.5% annual dividend in cash on a monthly basis.
Phong Le, Strategy’s chief executive officer (CEO), said, “Innovative institutions are continuing to integrate Stretch into their treasury strategies,” adding, “Anchorage Digital and Prevalon Energy, among others, have already adopted Stretch into their corporate treasuries.”
Strive also bought an additional 179 bitcoins on the day. With the latest purchase, Strive’s Bitcoin holdings rose to 13,311. CoinDesk reported the position is “worth $930 million at current prices.”
Meanwhile, Strive also raised the annual dividend rate on its own perpetual preferred stock, SATA, to 12.75%.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
