Michael Saylor, the man whose relationship with Bitcoin could rival that of Romeo and Juliet, has unleashed a rather curious move. On Monday, his ever-so-ambitious Strategy (Nasdaq: MSTR; STRK; STRF) announced the launching of its STRD perpetual preferred stock offering. The funds? Well, they’ll be used for something mundane, like buying more Bitcoin, or as Saylor prefers, “general corporate purposes” (read: get more of that sweet, volatile digital gold). 🚀
In a spectacle fit for the financial gods, Barclays, Morgan Stanley, Moelis & Company, and TD Securities are playing the part of the wise and wealthy managers of this high-stakes game. Meanwhile, the cast of secondary characters includes The Benchmark Company, AmeriVet Securities, Bancroft Capital, BTIG, and Keefe, Bruyette & Woods. They’re all co-managers – just a little side gig in their otherwise perfect portfolios.
In Case You Missed It: The IPO is Here and It’s All About Bitcoin
In a move that screams “I’m the king of crypto,” Strategy (formerly known as MicroStrategy – so forget the old name, it’s out) is preparing to conduct its inaugural public offering. We’re talking about a mind-boggling 2.5 million shares of the 10.00% Series A perpetual Stride preferred stock (STRD), mind you. If the fancy names and financial terms weren’t enough to send you into a frenzy, here’s the kicker: these STRD shares offer a 10 percent annual cash dividend, paid quarterly. Ah, the joys of passive income…
The plan is simple: raise $250 million, and use it for one thing (besides, you know, corporate expenses): Bitcoin acquisition. Ah, the love affair continues. 💰 Strategy has priced the offering at $100 per share, and before you can say “blockchain,” they’re set to rake in a cool quarter of a billion dollars.
Of course, Michael Saylor himself had to chime in on the social media circus. Over on X, he confirmed the offering was exclusively available to institutional investors and a select group of non-institutional ones. Because who wouldn’t want to join the Saylor Crypto Club? 🤔
— Michael Saylor (@saylor) June 2, 2025
And as if that weren’t enough excitement, the company also disclosed a new $75.1 million Bitcoin purchase. Yes, you read that correctly: $75.1 million. This brings their holdings to a jaw-dropping 580,955 BTC, currently valued at over $61 billion. Let’s not forget, Strategy has already bagged $20.2 billion in unrealized gains. A true titan of the Bitcoin world, if ever there was one.
Meanwhile, in the mundane world of stocks, MSTR closed up by nearly 0.87% on Monday, sitting comfortably at $372.27. But, of course, it’s up 24% year-to-date. How boring. 🙄
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2025-06-03 06:48