Strategy launches Bitcoin stock pegged at $100 to increase treasury
Strategy aims to launch a stock akin to a synthetic stablecoin, enabling the company to absorb more fiat money to convert into Bitcoin capital.
Strategy, the world’s largest corporate Bitcoin holder, is launching a new kind of stock offering, aiming to raise more funds to invest in the world’s first cryptocurrency.
Michael Saylor’s Strategy announced plans to conduct an initial public offering of 5 million shares of Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).
Strategy will use the net proceeds for “general corporate purposes, including the acquisition of Bitcoin and for working capital,” it announced on Monday.
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