Strategy is increasingly turning to perpetual preferred stocks to fund its Bitcoin strategy, with the company adding 90,000 BTC to its balance sheet so far this year.
Michael Saylor’s Strategy has announced several capital-raising programs totaling $44.1 billion to fund Bitcoin purchases, including the sale of common shares and two of its dividend-paying equity vehicles.
Strategy plans to raise up to $21 billion by selling Strategy (MSTR) stock and another $21 billion from its high-yield perpetual preferred stock, Stretch (STRC), via new at-the-market programs, the company said in an 8-K filing to the US Securities and Exchange Commission on Monday.
Strategy also intends to sell up to $2.1 billion worth of Strike (STRK) — another of its perpetual preferred stock offerings. The company didn’t specify a timeline for the issuances, stating that shares may be sold “from time to time.”
