Strategy Reveals Another Stock Offering to Boost $71 Billion Bitcoin Stash
Strategy, a Bitcoin treasury firm based in Tysons, Virginia, plans to launch an initial public offering of stock named Stretch (STRC) to fund its Bitcoin acquisition strategy. The firm aims to sell 5 million shares at $100 each, totaling $500 million, with an initial dividend rate of 9%. Dividends will be variable and paid monthly, starting at the end of August. Strategy currently holds 607,770 BTC, valued at over $71 billion. Originally a business software company, Strategy shifted focus to Bitcoin in 2020 as an inflation hedge. The stock MSTR has seen a significant increase in market cap since 2020. Strategy aims to raise $84 billion by 2027 for Bitcoin purchases, doubling its previous target. More than 100 publicly traded companies have adopted similar Bitcoin treasury strategies.
