חברת Strategy רכשה ביטקוין בשווי 2.54 מיליארד דולר, ברכישה הגדולה ביותר מאז נובמבר 2024

[라온]

Michael Saylor's Strategy Inc.
MSTR
has stepped up its Bitcoin accumulation in a meaningful way, purchasing $2.54 billion of the cryptocurrency in the week ended April 19, marking its largest weekly buy since November 2024. The bulk of the funding came from $2.18 billion raised through STRC perpetual preferred shares, with the remainder sourced from common stock issuance, according to a US Securities and Exchange Commission filing. The timing coincides with a three-week rally in Bitcointhe longest since Julywhich appears to have supported demand for Strategy's securities, with the stock rising nearly 30% last week as Bitcoin approached a two-month high.

The company's financing mix continues to evolve as management balances growth with shareholder sensitivity. Strategy introduced the variable-rate preferred structure last year to diversify its funding base, particularly as concerns around dilution from common equity intensified following the downturn in crypto markets since late last year. Historically, the firm had relied on a premium between its share price and Bitcoin to raise capital efficiently during bull markets, but that dynamic has weakened as the cryptocurrency pulled back from its October peak. While preferred shares help limit dilution, they carry a notable cost, including an 11.5% dividend on STRC securities, which could add to the company's ongoing financial obligations.

At the same time, Strategy is refining the structure of these instruments to support future issuance. The company recently proposed shifting dividend payments on STRC from monthly to semi-monthly, a move intended to help stabilize pricing around par value and potentially reduce the need for discounts in secondary offerings. These hybrid securities, offering yields comparable to junk bonds, continue to be marketed primarily to retail investors as a lower-volatility alternative. Bitcoin was trading around $75,300 on Monday after briefly exceeding $78,000 over the weekend, though it has largely remained within a $65,000 to $75,000 range this year, suggesting a more cautious stance among traders. Strategy shares were little changed near $166 on Monday, and remain down about 48% over the past year, compared with an approximately 11% decline in Bitcoin over the same period.
source: https://www.tradingview.com/news/gurufocus:24d2f7bf3094b:0-strategy-buys-2-54-billion-bitcoin-in-biggest-purchase-since-november-2024/