Michael Saylor backs STRC after strategy sells bitcoin to fund preferred dividends
Strategy sold 32 bitcoin for about $2.5 million last week, saying the proceeds will help fund distributions on its perpetual preferred stock. Michael Saylor then highlighted STRC, writing that the goal is to make it “the best credit instrument in the world.” That emphasis suggests the company is increasingly focused on building its preferred-stock offering while still seeking to raise bitcoin exposure on a per-share basis. Strategy says it makes financing and capital-allocation decisions based on bitcoin per share and shareholder value, not just total bitcoin holdings. The sale drew attention because it was only the company’s second bitcoin sale ever and came at an average price of about $77,135, well above its prior 2022 sale near $18,000. Bitcoin is now around $70,000 after falling to about $60,000 in February.
