Strategy | Crypto

Strategy’s (formerly MicroStrategy) flagship dividend-paying preferred stock is trading at its weakest level this year, pressuring one of the company’s most important tools for raising capital to buy Bitcoin. The $10.5 billion variable-rate perpetual preferred stock, which trades under the ticker STRC, closed Tuesday at $91.79. The settlement marked its third-lowest close since trading began […] The post Strategy’s $10 billion STRC Bitcoin yield product sinks to yearly low as market demands higher payout appeared first on CryptoSlate.

Bitcoin circled $65,000 after downside BTC price pressure into the FOMC meeting as analysis warned over the impact of Strategy potentially selling more BTC in the future. Bitcoin (BTC) bounced off week-to-date lows into Wednesday’s Wall Street open as corporate sell pressure returned to the radar. Key points: Bitcoin sees a new low for the current weekly candle with the Fed FOMC meeting due in hours. Read more

“It appears traders are seeing the latest BTC acquisition as an unsustainable path for STRC,” said 10x Research’s Markus Thielen. Strategy’s perpetual preferred stock STRC fell near record lows on Tuesday as investors seemingly balked at the company’s latest Bitcoin acquisitions. Michael Saylor’s variable-rate perpetual “Stretch” Bitcoin yield product declined by 3.58% to $91.79 on Tuesday, 8.2% below its target value of $100. Markus Thielen, CEO of 10x Research, said the dip is linked to Strategy’s recent Bitcoin buying. “The market would rather see [Strategy] not acquiring more BTC and rather keep the cash for dividend payments,” Thielen told Cointelegraph. “It appears traders are seeing the latest BTC acquisition as an unsustainable path for STRC.” Read more

Strategy (formerly MicroStrategy) added another $100 million of Bitcoin to its balance sheet last week, extending a buying campaign that has made the company the world’s largest corporate holder of the digital asset while sharpening a debate over what its common shareholders actually own. On June 15, Michael Saylor, the company's chairman, said Strategy bought […] The post Strategy bought $100 million more Bitcoin but critics say MSTR shareholders now own less of it appeared first on CryptoSlate.

Strategy acquired 1,587 Bitcoin for $100 million last week, lifting holdings to 846,842 BTC after raising $209 million through MSTR stock sales. Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, added to its cryptocurrency reserves last week as BTC continued to trade below the company’s average cost basis of about $75,700. Strategy acquired 1,587 Bitcoin (BTC) for $100 million between June 8 and Sunday, according to Monday's 8-K filing with the US Securities and Exchange Commission. Read more

Standard Chartered’s Geoff Kendrick tells clients “winter is over” as the analyst said crypto prices have likely seen the low for the cycle, ahead of Strategy’s Bitcoin purchase update. Standard Chartered analyst Geoff Kendrick on Friday told clients that he believes crypto asset prices have seen the low in the current cycle and he is looking for confirmation in three indicators: Strategy’s reporting that it bought more Bitcoin last week; crypto exchange-traded funds (ETF) saw positive inflows on Friday; and, oil prices continue to break lower. “We have now seen the low in crypto asset prices for the cycle. That would be USD59k for BTC (53% down from USD126k high),” Kendrick said in a brief note to clients on Friday. The biggest crypto was last trading on Sunday at about $63,704, according to CoinMarketCap data. Depending on how investors read Strategy chief Michael Saylor’s near-weekly tweet issued earlier on Sunday, The first sign that Kendrick is watching for may have come.  Read more

Meanwhile, Strive bought 32 bitcoin, the same number Strategy dumped last week.

Strategy resumed Bitcoin buying by purchasing 1,550 BTC for $101.3 million, bringing its total holdings to 845,256 BTC after last week’s controversial sale. [Update 18:15 UTC June 8: Adds outcome of Strategy shareholder vote on change in preferred stock dividend payments in sixth paragraph.] Strategy purchased 1,550 Bitcoin for approximately $101.3 million last week, bringing its total holdings to 845,256 BTC. The company paid an average price of $65,332 per Bitcoin for the purchase, according to a Monday 8-K filing with the US Securities and Exchange Commission. Strategy's aggregate Bitcoin holdings were acquired at an average price of $75,680 per BTC, for a total cost of about $63.97 billion. Read more

Strategy adds bitcoin and cash after raising $181 million through stock sales.

Strategy’s top execs took to social media on Sunday to tout its Bitcoin strategy while shareholders cast final votes on a proposal for twice-monthly preferred stock dividend payments. Strategy watchers were not disappointed on Sunday as executive chairman Michael Saylor took to social media to signal pending news on changes in the company’s Bitcoin holdings, hours ahead of the final tally of shareholder votes on a proxy measure that would see the company pay dividends twice a month on its preferred STRC shares. “A good time to add more dots,” was the message Saylor posted on X.com along with a bubble chart tracking Strategy’s Bitcoin (BTC) purchases over the past nearly six years. That chart, from Iceland-registered StrategyTracker.com, has been consistently posted by Saylor in the days ahead of news of a purchase by the biggest publicly traded Bitcoin holder. By mid-afternoon on Sunday, Michael Saylor's X post had 2.3 million views. Source: Michael Saylor on X.com Read more

Apyx's apxUSD fell below its dollar reference on June 4 as Bitcoin traded near $63,000, putting DeFi dollar peg risk back in focus. A Bitget report said the token briefly touched $0.93 during the selloff. The report framed Apyx's response as a design point: apxUSD's reserve risk is largely borne by Strategy's STRC preferred stock, […] The post A stablecoin tied to Strategy stock depegs putting a new DeFi dollar risk in focus as Bitcoin sells off appeared first on CryptoSlate.

“Less Bitcoin on levered DAT balance sheets and more on diversified corporate balance sheets will be a positive,” said Grayscale’s head of research, Zach Pandl. Strategy’s leveraged Bitcoin model is stressed, which could limit the firm’s ability to keep buying BTC and potentially force further sales, according to Grayscale. “The shift in approach from one of the world’s largest BTC holders has weighed on market sentiment,” said Zach Pandl, Grayscale’s head of research, on Thursday.  Michael Saylor’s Strategy sold 32 BTC on Monday, a tiny fraction of its total holdings of 843,706 BTC, but enough to rattle market sentiment as the asset has tanked by 16% since the sale.  Read more

Bitcoin price collapsed as Strategy faced tighter liquidity conditions and paused its BTC buying. Is it time to jump ship, or buy the dip? Key takeaways: Bitcoin (BTC) faced a 21% price correction in 10 days, retesting the $61,000 level for the first time in 4 months. This movement coincided with Strategy (MSTR US) company's decision to buy back some corporate debt, temporarily pausing its Bitcoin accumulation. Traders now fear that Strategy could be forced to liquidate some of its Bitcoin holdings. Read more

Strategy’s Bitcoin paper loss tops $11 billion as Saylor pointed to ETF outflows and AI infrastructure spending as factors pressuring BTC. Strategy’s Bitcoin holdings fell deep into paper-loss territory as BTC traded below the company’s average purchase price, renewing scrutiny of Michael Saylor’s Bitcoin treasury model. Strategy holds 843,706 Bitcoin (BTC) acquired at an average price of $75,699 per coin, with a total cost basis of $63.8 billion. However, the latest Bitcoin downturn sank the value of Strategy’s Bitcoin reserve to $52.6 billion, pushing its unrealized loss to $11.2 billion, according to the company’s dashboard. Strategy’s variable-rate perpetual preferred stock, STRC, has also declined below its intended $100 value and is traded at $94.6 at the time of writing. Strategy's (MSTR) stock price was down 1.5% in pre-market trading to $124.7 on Thursday, Yahoo Finance data shows. Read more

A Polymarket contract on whether Strategy sold Bitcoin by May 31 resolved to no after traders disputed how the sale should count. A disputed Polymarket contract on whether Strategy sold Bitcoin by May 31 resolved to “No” after two dispute rounds, despite Strategy later disclosing that it sold 32 BTC during the market’s covered window. UMA Optimistic Oracle (UMA) token holders voted to settle the market in “no” following a second resolution cycle that closed at 12:34 am UTC on Thursday, blockchain data shows. An overwhelming 98.6% of the 607 participants voted for the market to resolve in “no,” while only 1.4% voted “yes,” data from Betmoar shows. Read more

The move comes as Ether prices slumped to a 14-month low below $1,750 on Thursday. Ethereum treasury company Bitmine Immersion Technologies is launching a $300 million perpetual preferred stock offering, borrowing a page from Strategy’s financing playbook.  Bitmine told the SEC on Wednesday that it intends to offer 3 million of its 9.5% Series A perpetual preferred stock at $100 per share, which will trade under the symbol BMNP within 30 days of issuance.  Preferred shares are a hybrid of stocks and bonds. Investors are not directly betting on the company’s growth but lending it money in exchange for regular payments. For every $100 share, Bitmine will pay dividends on a weekly basis, amounting to $9.50 per year.  Read more

Bitcoin price has hit $70,000 after Strategy, the world's largest publicly traded corporate holder of the top crypto, sold a portion of its BTC treasury for the first time since 2022. Data from CryptoSlate showed that BTC's price dropped 4% on the news to as low as $69,690 before recovering to $70,120 as of press […] The post Strategy sold 32 BTC to pay dividends – But the real risk is what happens if it has to sell more Bitcoin appeared first on CryptoSlate.

Michael Saylor says Strategy aims to make STRC the world's best credit instrument after the company sold bitcoin to help fund preferred stock distributions

The move suggests a greater willingness on the part of Michael Saylor and Strategy to use BTC holdings to support the capital structure, said one analyst, while others disagreed.

The world's largest public Bitcoin holder reduced its stash to 843,706 BTC, while raising $128.3 million through Class A stock sales. [Update 1:57 P.M. UTC, June 1 -- Updates third paragraph with share price decline in Monday morning trading.] Strategy sold 32 BTC last week, its first reported Bitcoin sale since a 2022 tax-loss transaction, as the company moved to fund preferred stock distributions. Strategy sold 32 Bitcoin (BTC) for $2.5 million at an average price of $77,135 per BTC, reducing its holdings from 843,738 BTC to 843,706 BTC, according to a Monday 8-K filing with the US Securities and Exchange Commission. Read more