Michael Saylor
Strategy's STRC preferred stock falls 25% below par
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Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock dropped sharply last week, trading near $75 after hitting a record low around $71. The decline erased the company's long-standing premium over its Bitcoin holdings and raised questions about its financing model. Bitcoin traded below $60,000 as Strategy common shares hit a two-year low near $82.
Michael Saylor shared a chart on Sunday indicating Strategy holds 847,363 Bitcoin worth about $50.9 billion. The post came as the company's stock continued to decline amid questions over its funding approach.
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Strategy purchased 1587 Bitcoin last week for about 100 million dollars. The company financed the acquisition by selling 1.7 million shares of its MSTR stock. Total holdings now stand at 846842 Bitcoin.
Strategy is approaching the $28 billion issuance limit on its STRC preferred stock, yet the company continues to convert investor demand into spot bitcoin buys through a monthly funding cycle. Recent data shows purchases slowed after April's peak but remain active ahead of this week's ex-dividend deadline.
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Michael Saylor's Strategy could acquire at least 3,127 BTC this week through STRC share sales. The purchases may reduce Bitcoin supply and support higher prices as bulls target 100,000 dollars.