Saylor Says Strategy to Expand STRC to Boost Bitcoin Purchases

Michael Saylor, executive chairman of Strategy, the world's largest corporate Bitcoin holder, said he aims to accelerate growth in the company's STRC preferred stock to fund additional Bitcoin purchases.

Saylor said on May 21 that Strategy's goal is to maximize STRC's growth and further increase the scale of its Bitcoin buying, BlockBeats reported. More Bitcoin purchases would lift the company's Bitcoin holdings per share, he added. Strategy also wants to reduce volatility and uncertainty as much as possible.

STRC is a perpetual preferred stock that Strategy launched in July last year to raise funds for Bitcoin purchases. If STRC trades above its $100 par value, the company can sell shares through an at-the-market program, raise cash and buy more Bitcoin.

Strategy has raised STRC's annual dividend rate to 11.5% from 11% at launch. The dividend is paid in cash each month.