MSTR's STRK Issue Hits Record Proceeds, Outperforms Bitcoin and S&P 500
Strategy's STRK preferred stock has raised a record $59.7 million through its weekly at-the-market issuance, contributing to a significant increase in the company’s bitcoin holdings to 576,230 BTC and achieving a 16.3% BTC yield. STRK has delivered an 8.1% effective yield and has increased by 16% since its debut, outperforming both bitcoin, which gained 10%, and the S&P 500, which declined by 2%. STRK, which features a fixed annual dividend of 8%, has less correlation with MSTR common stock at 44%, offering diversified exposure to investors. This growth is in alignment with Strategy’s ongoing bitcoin-buying strategy amidst a current bitcoin price exceeding $100,000, with the company holding substantial funds available for further acquisitions. The latest issuance illustrates the increasing significance of STRK in the company's acquisition model, highlighting a robust performance in a competitive financial landscape.
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