Strategy (formerly MicroStrategy) could resume its aggressive Bitcoin accumulation, with perpetual preferred stock STRC generating sufficient funds in recent trading sessions. MSTR stock price closed 2.40% at $119.83 on Thursday.
Strategy Perpetual Preferred Stock STRC Signals Over 1,800 BTC Buy
Strategy’s Stretch perpetual preferred stock (STRC) is estimated to have raised enough money to buy 1,821 BTC. This hints at a massive Bitcoin purchase announcement by Strategy coming Monday, resuming its Bitcoin accumulation after a pause last week.
The development comes as STRC trades at $100 par value, enabling the company to issue new shares through its at-the-market (ATM) program and deploy proceeds directly into BTC purchases.
Data shows Strategy likely purchased 1,085.94 BTC on Tuesday, 222.26 BTC on Wednesday, and 513.67 BTC on Thursday. The company uses STRC to efficiently raise capital to buy BTC while rewarding investors with a 11.50% annual yield.
Estimated Bitcoin Buy from STRC StockMeanwhile, BitcoinTreasuries claimed that Strategy has raised enough money from STRC to buy 4,535 BTC. Strategy didn’t buy any BTC last week, keeping the total Bitcoin holdings at 762,099 BTC.
MicroStrategy Director Jarrod Patten Continues Selling MSTR Stock
According to the latest SEC filing, Strategy director Jarrod Patten exercised options to acquire 700 MSTR shares at $18.654 per share. He immediately sold those 700 shares in the open market at $124.04 per share on Tuesday.
On Wednesday, Patten exercised options to acquire 700 MSTR shares at $18.654 per share and sold them at $122 per share. As CoinGape reported earlier, Strategy director has sold MSTR stocks in the last few days.
On Thursday, MSTR stock price closed 2.40% at $119.83 on Thrsday as Bticoin price continues to remain under pressure amid escalating US-Iran war. The intraday low and high were $116.40 and $122.64, respectively.
Trading volume remains below the average volume of 22 million. MSTR stock has dropped almost 10% in a week, extending its selling streak to 8 consecutive months.
MSTR Stock Price ChartBitcoin price jumped slightly to trade at $67,059 at press time. The 24-hour low and high are $65,725 and $67,387, respectively. Trading volume plunges in response to crypto options expiry and Nonfarm payrolls data.
Source: https://coingape.com/news/stocks/strategy-preferred-stock-strc-raises-enough-funds-to-buy-over-1800-btc/
