Strategy (MSTR), the largest corporate holder of bitcoin, plans to raise as much as $4.2 billion through sales of a newly issued preferred stock series, according to a Thursday filing with the U.S. Securities and Exchange Commission.
The offering comes just days after the company sold nearly $2.5 billion worth of STRC, or “stretch,” to investors and the stock debuted trading on the Nasdaq Global Select Market. The shares pay a 9% variable dividend, adjustable at the company’s discretion to maintain market price stability.
The filing also coincided with the firm reporting second-quarter net income of $10 billion driven by bitcoin’s price gains during the quarter.
Read more: Strategy Earned $10B in Q2 on Back of Bitcoin Price Gain
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
The breakaway chain inherited bitcoin’s mining difficulty with only a tiny share of hashpower, leaving…
The proposal has scant support from bitcoin miners and influential commentators have also voiced their…
The digital asset manager's CIO says large capital pools control up to $200 trillion globally,…
BTCPay told users running LND to update immediately or take servers offline after attackers stole…
If a minority chain appears this weekend, buyers could replay signed fork-coin sales on bitcoin…
Mateen purchased more than 306,000 shares across two days following the company's quarterly earnings, lifting…